The new president at Takeda has raided Sanofi for its new head of global R&D. And they're putting their new top scientist in Cambridge, MA, which is becoming the world headquarters of drug research for much of the pharma industry.
Takeda, in the process of trimming down its R&D efforts, has inked a collaborative research deal with Australia's Monash University to discover and develop new treatments for gastrointestinal diseases.
So long, Millennium. Takeda, which shelled out $8.8 billion for the Massachusetts company back in 2008, is retiring what at one time was an iconic biotech brand.
In 2008, Takeda made waves in the biotech world when it agreed to pay $8.8 billion for Millennium Pharmaceuticals, a trailblazing outfit from Cambridge, MA. Now, years into integrating its acquisition, Takeda is dropping the Millennium moniker, spelling the end of the line for what was once an iconic brand in biotech.
The FDA has branded Takeda's top late-stage drug prospect--ixazomib (MLN9708), a multiple myeloma treatment designed to succeed the top-selling blockbuster Velcade--as a "breakthrough" therapy deserving VIP status with regulators.
When Takeda Pharmaceutical faced the patent-cliff blues, it brought in Christophe Weber as president and COO to engineer a revamp. And true to his mission, Weber unveiled a new org chart in September, along with a fresh set of top managers.
Those fast-and-furious rumors about Chris Viehbacher's impending ouster at Sanofi? The new round of chatter about Viehbacher's replacement is almost as intense. Bloomberg has a list of healthcare execs said to be up for the job, and they span a who's who of Big Pharma companies.
Whatever Cambridge, MA-based Millennium learned over the past two years it's been collaborating with Presage Biosciences, the experience must have been rewarding.
The growing scourge of liver disease in the developed world has spurred a frenzied race among drug developers to ferret out new therapies, and Takeda, new to the field, has recruited the diagnostics experts at GE Healthcare to shepherd its early R&D efforts.
Takeda COO Christophe Weber announced a revamped management structure in September that he is building in an effort to revive the Japanese drugmaker. And from the company's just-released 6-month earnings report, the reason the revamp is needed is apparent.