Millennium and COR Therapeutics Agree to Merge, Creating Integrated Biopharmaceutical Company
Millennium Pharmaceuticals, Inc. and COR Therapeutics, Inc. today announced that they have signed a definitive agreement for Millennium to acquire COR in a stock-for-stock exchange valued at $2.0 billion. The combined company will be named Millennium Pharmaceuticals, Inc., with worldwide headquarters in Cambridge, Massachusetts. This merger will create a leading biopharmaceutical company with multiple products on the market, nine candidate products in human clinical trials, four therapeutic franchise areas, a strong commercial operating presence, and more than 1,200 employees in research and development. The two companies bring together complementary capabilities by uniting COR’s cardiovascular expertise, product pipeline, and commercial infrastructure for its market-leading anti-platelet cardiovascular product, INTEGRILIN® (eptifibatide) Injection, with Millennium’s genomic-based research, drug discovery and development technology platform, business leadership in strategic alliances, and product pipeline in oncology, inflammation and metabolic disease. This merger serves as a key milestone in achieving Millennium’s goal of creating a major biopharmaceutical company.
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