Millennium Prospers Under Takeda--But Will Takeda Get Full Value?

In losing its autonomy as an independently traded entity, Millennium has finally gained the freedom to become a larger player in the oncology space. One year after being acquired by Takeda, the biotech must no longer demonstrate to Wall Street regular quarterly earnings from Velcade, its only product, while trying to fund additional trials and build its pipeline. The success of this new business model fashioned by Takeda for its acquisition is still an open question, but it could provide a winning formula for Big Pharma companies in dire need of rejuvenated pipelines.