Takeda Oncology
The oncology-focused biopharmaceutical business of Takeda Pharmaceutical Company, descended from Millennium Pharmaceuticals.
Last updated October 14, 2026
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Overview
Takeda Oncology is the oncology-focused biopharmaceutical business of Takeda Pharmaceutical Company Limited. Its institutional history begins with Millennium Pharmaceuticals, a biotechnology company founded in Cambridge, Massachusetts, in 1993 by Mark J. Levin. Millennium initially concentrated on assembling scientific and commercial capabilities and used a large network of pharmaceutical and biotechnology alliances to finance and expand its research pipeline. The company was notable for applying genomics and systematic disease-gene research to drug discovery, although its marketed and clinical products were not generally direct outcomes of that program. Millennium broadened its capabilities through a series of transactions. A 1999 merger with Leukosite brought Campath, an alemtuzumab product that was nearing commercialization, together with additional investigational programs. In 2000, the combination with Cambridge Discovery Chemistry added chemistry expertise and a stronger presence in the United Kingdom. Millennium subsequently transferred Campath to its development partner ILEX Oncology, which was later acquired by Genzyme. In 2002, Millennium merged with COR Therapeutics in one of the larger biotechnology mergers of its period. The transaction added cardiovascular development capabilities and Integrilin, an intravenous antiplatelet medicine, while preserving Millennium’s established interests in oncology and inflammation. The company’s defining achievement was the development of bortezomib, marketed as Velcade. Millennium advanced the proteasome inhibitor through clinical development and obtained United States approval in 2003 for relapsed or refractory multiple myeloma. Velcade was the first proteasome inhibitor approved by the U.S. Food and Drug Administration and became an important treatment in hematologic oncology. A subsequent application supported by the Phase III VISTA study expanded its use to patients with previously untreated multiple myeloma; the FDA approved that first-line indication in June 2008. Velcade was developed with Johnson & Johnson Pharmaceutical Research & Development, with commercialization responsibilities divided among Takeda, Janssen-related companies, and regional partners. Takeda announced the acquisition of Millennium in 2008 and completed it on May 14 of that year. The transaction was carried out at $25 per share in cash and was valued at approximately $8.8 billion. Millennium became a wholly owned Takeda subsidiary and operated initially as Millennium: The Takeda Oncology Company. Its Cambridge headquarters served as Takeda’s global oncology hub, alongside oncology facilities in San Diego, San Francisco, Tsukuba, and Osaka. Takeda later simplified the operating brand to Takeda Oncology, with the Millennium name dropped from the public-facing subsidiary identity in 2014. Millennium Pharmaceuticals remained a legal holding name for certain continuing matters. The business has historically worked across oncology and inflammation, while its public identity became increasingly centered on cancer medicines and oncology research. In addition to Velcade, Takeda’s oncology portfolio and development activities have included products and candidates such as ixazomib, marketed as Ninlaro, and the investigational or commercial programs inherited and developed through Takeda’s broader oncology organization. The business has also participated in the development and commercialization of medicines for hematologic malignancies and solid tumors through internal research, licensing, collaborations, and acquisitions. Takeda Oncology’s more recent history illustrates the risks of oncology development as well as its successes. In October 2023, Takeda began withdrawing Exkivity, or mobocertinib, in the United States after ending a confirmatory late-stage study early when it failed to meet its required objective. Exkivity had received U.S. approval in 2021 for adults with non-small-cell lung cancer whose tu…
History
Takeda Oncology traces its origins to Millennium Pharmaceuticals, founded by Mark J. Levin in Cambridge, Massachusetts, in 1993. Millennium spent its early years building research, business-development, and alliance capabilities. Beginning in 1994, it entered into more than 20 strategic relationships with pharmaceutical and biotechnology companies. These arrangements supplied substantial committed funding and helped the company build a broad development pipeline without relying solely on internal capital. The company expanded through several important combinations. Its 1999 merger with Leukosite added Campath, also known as alemtuzumab, which was approaching the market, as well as other clinical programs. In 2000, Millennium merged with Cambridge Discovery Chemistry, strengthening its medicinal-chemistry operations and adding a significant group of scientists, including a larger United Kingdom presence. Millennium later sold or transferred Campath to its partner ILEX Oncology; ILEX was subsequently acquired by Genzyme. In February 2002, Millennium merged with COR Therapeutics. The transaction was among the largest biotechnology mergers of its time and expanded Millennium beyond oncology and inflammation into cardiovascular research and development. It also brought Integrilin, an intravenous antiplatelet drug, into the company. Millennium worked with Schering-Plough on Integrilin until 2005, when it licensed the U.S. commercialization and development rights to that partner. Millennium’s most important achievement was Velcade, the brand name for bortezomib. The company advanced the medicine through clinical trials for multiple myeloma and secured U.S. approval in May 2003 for patients with relapsed or refractory disease who had already received multiple therapies. Velcade was the first proteasome inhibitor approved by the FDA and was regarded as a major advance in multiple-myeloma treatment. Millennium later submitted a supplemental application supported by the Phase III VISTA trial. The FDA granted priority review in January 2008 and approved Velcade in combination for previously untreated multiple myeloma on June 20, 2008. Takeda announced its acquisition of Millennium in 2008 and completed the transaction on May 14. The deal was structured at $25 per share in cash and had an announced value of approximately $8.8 billion. Millennium continued as a wholly owned subsidiary under the name Millennium: The Takeda Oncology Company. Its Cambridge operation became Takeda’s global oncology center, complementing Takeda facilities in California, Japan, and other locations. The public-facing Millennium name was later removed, with the organization effectively operating as Takeda Oncology from 2013–2014 onward. Millennium Pharmaceuticals continued as a legal holding name for certain matters. Takeda Oncology’s work has encompassed cancer and inflammation research, although oncology became the organization’s principal identity. The business has supported medicines for hematologic malignancies and molecularly defined solid tumors through discovery research, clinical development, commercialization, and partnerships. Its oncology portfolio has included Velcade, Ninlaro, and Exkivity, among other Takeda products and programs. Exkivity, or mobocertinib, was approved in the United States in 2021 for adults with non-small-cell lung cancer carrying specified EGFR exon 20 insertion mutations. In October 2023, Takeda began the process of withdrawing the drug in the United States after ending its required confirmatory study early when the late-stage trial failed to demonstrate the expected benefit. This event highlighted the regulatory and clinical uncertainty associated with narrowly targeted oncology medicines. Despite that withdrawal, Takeda Oncology remains an active business unit of Takeda Pharmaceutical Company rather than an independent public company.
- 2023
U.S. withdrawal process begins for Exkivity
[1]Takeda began withdrawing Exkivity in the United States after ending its confirmatory late-stage study early following an unsuccessful result.
- 2021
Exkivity receives U.S. approval
[1]The FDA approved mobocertinib for a defined group of adults with non-small-cell lung cancer involving EGFR exon 20 insertion mutations.
- 2014
Millennium brand is retired from the subsidiary name
[1]Takeda simplified the public-facing identity from Millennium: The Takeda Oncology Company to Takeda Oncology.
- 2008
Takeda acquires Millennium
[1]Takeda completed the approximately $8.8 billion acquisition on May 14, creating a wholly owned oncology subsidiary.
- 2008
Velcade expands into previously untreated multiple myeloma
[1]The FDA approved a Velcade-based regimen for patients who had not previously received therapy for multiple myeloma.
- 2003
Velcade receives initial U.S. approval
[1]The FDA approved bortezomib, marketed as Velcade, for relapsed and refractory multiple myeloma.
- 2002
Merger with COR Therapeutics
[1]The merger broadened Millennium into cardiovascular research and added Integrilin while retaining oncology and inflammation as core areas.
- 2000
Combination with Cambridge Discovery Chemistry
[1]The transaction strengthened Millennium’s chemistry capabilities and expanded its scientific organization, including in the United Kingdom.
- 1999
Merger with Leukosite
[1]The combination added Campath and other investigational programs to Millennium’s development portfolio.
- 1993
Millennium Pharmaceuticals is founded
[1]Mark J. Levin founded Millennium Pharmaceuticals in Cambridge, Massachusetts, establishing the organization that later became Takeda Oncology.
Products and positioning
A science-led oncology organization focused on discovering, developing, and commercializing targeted and specialty medicines for cancers, particularly hematologic malignancies and selected molecularly defined solid tumors.
Proteasome inhibitor · 2003
Velcade
Velcade is the brand name for bortezomib, a proteasome inhibitor developed by Millennium with Johnson & Johnson Pharmaceutical Research & Development. It was approved by the FDA in 2003 for relapsed and refractory multiple myeloma and later gained approval for use in previously untreated multiple myeloma. Takeda has held U.S. commercialization responsibility, while Janssen-related organizations and regional partners have handled commercialization in other markets.
Oral proteasome inhibitor
Ninlaro
Ninlaro is the brand name for ixazomib, an orally administered proteasome inhibitor associated with Takeda’s multiple-myeloma portfolio. It represents the organization’s effort to extend proteasome-based treatment beyond its earlier injectable Velcade franchise.
Targeted oncology therapy · 2021
Exkivity
Exkivity is the brand name for mobocertinib, a targeted therapy developed for adults with non-small-cell lung cancer whose tumors contain specified EGFR exon 20 insertion mutations. It received U.S. approval in 2021, but Takeda began the U.S. withdrawal process in 2023 after a required confirmatory late-stage study failed to establish the expected benefit.
Brand decisions
2023
Withdrawal of Exkivity in the United StatesOtherBackground
Exkivity’s accelerated U.S. authorization required a confirmatory late-stage study to verify clinical benefit in the relevant non-small-cell lung cancer population.
Action taken
Takeda ended the confirmatory study early after an unsuccessful result and began the process of withdrawing Exkivity from the U.S. market.
Aftermath
The product’s U.S. status was discontinued, illustrating the regulatory consequences of failing to confirm benefit after an accelerated oncology approval.
2014
Simplification of the Millennium oncology brandStrategyBackground
Following its integration into Takeda, the subsidiary no longer required the separate Millennium public-facing identity.
Action taken
Takeda dropped Millennium from the operating brand and used Takeda Oncology as the public identity.
Aftermath
Millennium Pharmaceuticals remained a legal holding name for ongoing legal matters, while Takeda Oncology became the recognized operating brand.
2008
Takeda chooses to acquire Millennium PharmaceuticalsM&ABackground
Takeda sought to strengthen its pharmaceutical pipeline and oncology capabilities through the purchase of a specialized biotechnology company with a major marketed cancer medicine.
Action taken
Takeda completed a cash tender offer and subsequent merger for $25 per Millennium share, with an announced transaction value of approximately $8.8 billion.
Aftermath
Millennium became a wholly owned subsidiary and served as Takeda’s global oncology hub from Cambridge, later adopting the Takeda Oncology name.
Announced acquisition value. $8.8 billion (2008 transaction announcement and completion)
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