The transaction was unanimously approved by the boards of directors of both companies. Upon completion of the acquisition, Millennium will become a wholly-owned subsidiary of Takeda, and will continue operations in Cambridge, Massachusetts, as a standalone business unit. Millennium will be known as Millennium Pharmaceuticals, a Takeda Company.
Yasuchika Hasegawa, president of Takeda, said: “Millennium greatly strengthens Takeda’s global oncology portfolio, led by the flagship product Velcade, and further enhances its pipeline with clinically differentiated, high-quality product candidates. We are pleased that Deborah Dunsire, Millennium’s president and CEO, and the current management team intend to continue to lead the company. Our strong desire is to retain Millennium employees, who have created an entrepreneurial and innovative culture.”