Takeda acquires Millennium to keep influence in global market

TOKYO In efforts to remain an influencing presence in the global pharmaceutical industry, Japan’s Takeda Pharmaceutical Co. has decided to buy U.S. biotech Millennium Pharmaceutical Inc. for about $9 million, according to published reports.

Takeda, Japan’s biggest drug company, is planning on buying Millennium for a reported $25 PER share, a total of $8.8 billion. The deal would give Takeda strength in the market for cancer treatments, which Millennium has, including Velcade, a drug used to treat blood cancer, which is expected to create revenue of $345 million this year.

Takeda specializes in treatments for diabetes as well as cardiovascular and anti-infective drugs, and since its patents for its biggest-selling products, Prevacid, which treats ulcers, and the diabetes treatment Actos, expire in 2009 and 2011, the company is making several acquisitions to keep its company from being a “takeover target,” according to published reports.

Takeda has also purchased Amgen’s Japan unit, as well as marketing rights for 13 Amgen drugs in Japan and China.