Osaka, Japan and Cambridge, Mass., May 23, 2013 -- On May 9th, Takeda Pharmaceutical Company Limited (“Takeda”) announced its FY2012 year end earnings as well as its mid-range growth strategy. As part of the strategy, Takeda has initiated Project Summit, a company-wide initiative to optimize efficiency and build a robust global operating model to succeed in a highly competitive environment.
To that end, Yasuchika Hasegawa, President and CEO of Takeda, has made the decision to more closely integrate Millennium with the greater Takeda organization. This decision will enable Takeda to realize the greatest operational efficiencies and standardize many processes across the Takeda group. As the first step in this process, the Millennium oncology research and development (R&D) functions will fully integrate with Takeda’s global R&D organization, led by Takeda Chief Medical and Scientific Officer Tadataka Yamada, M.D.
“Takeda’s commitment to oncology remains steadfast, as does our dedication to a presence in Cambridge, MA, an area known for innovation and exceptional scientific talent. The R&D integration will maintain Millennium’s entrepreneurial spirit and oncology expertise while maximizing the resources and reach of Takeda’s world-class global R&D organization. We will continue to build the pipeline, drive our robust late-stage oncology programs and bring more life-changing medicines to patients,” said Hasegawa. “Our vision to cure cancer remains unchanged.”
The central element of the R&D integration is the creation of the Oncology Therapeutic Area Unit (TAU), which will be headquartered in Cambridge, Mass., and led by Karen Ferrante, M.D., previously Chief Medical Officer of Millennium. Millennium Chief Scientific Officer Joseph Bolen, Ph.D., will continue to lead the global oncology drug discovery unit.
As part of these organizational changes, Deborah Dunsire, M.D., President and CEO of Millennium and a member of Takeda’s board of directors, has decided to leave the Company at the end of her Takeda board term in June.
Takeda recognizes the unique expertise needed in oncology and will continue to have a commercial oncology business unit based in Cambridge, including plans to maintain and potentially expand with new product launches, the US specialty field personnel in oncology. Anna Protopapas, currently Corporate Officer, Executive Vice President and Global Business Development Head, Takeda, will assume the additional role of President of Millennium. The Millennium commercial, general and administrative functions will now be led by Protopapas.
Both the oncology R&D and Commercial groups will remain headquartered in Cambridge. As part of the integration with Takeda R&D, the Millennium R&D organization will assume the Takeda name. The Commercial organization will continue as Millennium: The Takeda Oncology Company to preserve the well-respected reputation and recognition within the oncology community. The Millennium offices in Cambridge will continue to serve as the oncology hub for Takeda and will now be known as Takeda Cambridge US.
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate Website, www.takeda.com.
Millennium: The Takeda Oncology Company, a leading biopharmaceutical company based in Cambridge, Mass., was acquired by Takeda Pharmaceutical Company Ltd. in May, 2008. The Company’s commercialization activities are focused in oncology. Additional information about Millennium is available through its website, www.millennium.com.
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