Millennium Gets a Product, and Capabilities
Executive Summary
Millennium Pharmaceuticals Inc.'s acquisition of Cor Therapeutics Inc. brings the technology integrator a marketed product (Integrilin), the infrastructure that supports it, and, in Vaughn Kailian, Cor's CEO who will now head Millennium's commercial operations, a highly capable biopharmaceutical executive. The firms says their research programs are complementary--even if they don't appear to be at first glance.
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Millennium: The Risks of Forward Integration
Millennium Pharmaceuticals has been spending much of the new century building a development organization. Much of this nuts-and-bolts endeavor came out of its acquisition of Cor Therapeutics in 2001, a transforming transaction that has delivered only mixed results, and has now put the company on a hard-to-steer and equally hard-to-alter course.
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