Millennium Pharma Soars on Takeda Bid

Wall Street applauded Takeda Pharmaceuticals' $8.8 billion cash bid for Millennium Pharmaceuticals, which will give the Japanese company access to a lucrative blood cancer drug and stockholders of the Cambridge, Mass. biotech firm a sweet premium on their shares.

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Some of the world's biggest drug companies are finding that their genetic research is worth more to them if they give it away.

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