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Millennium To Acquire AnorMED

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Millennium Pharmaceuticals, Inc. has entered into an agreement to acquire AnorMED, Inc. for approximately $515 million. AnorMED is a Canada-based biopharma company with a late-stage Phase III hematology-oncology product, Mozobil, which is currently in late-stage Phase III development. Subject to successful development and regulatory approval, the drug will be launched in the U.S. in 2008. Mozobil, a small molecule CXCR4 chemokine antagonist, works by releasing stem cells from the bone marrow int...

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