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Abbott, Millennium in $250mm obesity, diabetes research deal

Executive Summary

Under terms of a five-year deal, Abbott Laboratories and Millennium Pharmaceuticals will jointly discover, develop, and sell drugs and molecular diagnostics to treat and manage obesity and diabetes, initially focusing on small molecules and potentially later on proteins, antibodies, and antisense products. Abbott agreed to buy $250mm in Millennium common stock, (uf)$50mm up front, and the remainder over the next two years. All stock purchases will be at market price, according to the contract filed with the SEC.
Deal Industry
  • Pharmaceuticals
  • In Vitro Diagnostics
    • Chemistry, Immunoassay
  • Biotechnology
    • Pharmacogenetics-Pharmacogenomics
    • Drug Discovery Tools
      • ADMET
      • Bioinformatics
      • Genomics-Proteomics
Deal Status
  • Terminated
Deal Type
  • Alliance
    • Co-Promotion
    • Includes Contract
    • Includes Equity
    • Includes Royalty or Profit Split Information
    • R&D and Marketing (Licensing)

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