Pharma BD Deal Intelligence
Takeda Pharmaceutical Company Limited acquired Millennium Pharmaceuticals, Inc. for $8.8 billion through an all-cash tender offer of $25.00 per share, a premium of roughly 53%. The deal gave Takeda the multiple-myeloma proteasome inhibitor Velcade (bortezomib) and established a Cambridge, Massachusetts-based U.S. oncology hub—Millennium retained its name and headquarters—adding oncology scale ahead of the patent cliff on Takeda's diabetes drug Actos. Then the largest overseas acquisition by a Japanese drugmaker, the transaction closed on May 14, 2008.