Takeda Pharmaceutical Company (B): The Millennium Acquisition

Yasuchika Hasegawa, president of Takeda Pharmaceutical Company, had a vision to make Takeda a top tier company in oncology by 2015. In 2008, Takeda acquired Millennium Pharmaceuticals, a respected oncology company with annual sales of $528 million in 2007 and a promising pipeline of new drugs. Hasegawa and Millennium CEO Deborah Dunsire believed that it was critical to convey a consistent vision for the future of Millennium within Takeda and help Millennium employees feel positive about the company's future. Millennium would operate independently and become Takeda's Center of Excellence in Oncology. This case explores the steps that Hasegawa took to successfully integrate Millennium. His priorities centered on retaining Millennium talent and addressing the friction that arose from two very different corporate cultures. He also used the opportunity to transform Takeda's risk averse culture into a more innovative and flexible one that would support Takeda becoming a truly global pharmaceutical company.