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Biotech / Medical : Biotech News

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To: tnsaf who started this subject	9/7/2000 2:44:26 PM
From: sim1	of 7143

Renegade Report Millennium Pharma eyes drug OK By Stephanie O'Brien, CBS.MarketWatch.com Last Update: 2:06 PM ET Sep 7, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Millennium Chief Technology Officer Michael Pavia said the company has "no major concerns" about regulatory approval for its leukemia drug Campath by the end of the year. Pavia told CBS.MarketWatch.com that the Food and Drug Administration is still reviewing the drug after requests for more information. Pavia told a packed room at the NewsMakers in the Biotech Industry Conference at the Millennium Hotel that the company is on track to boost productivity and reduce costs. The company (MLNM: news, msgs) is also pursuing technology partnerships and other merger and acquisition efforts. He also said the company is on track to get $2 billion in alliance funding by the end of the year after raising $1.8 billion so far this year. In a separate item, the company also approved a 2-for-1 stock split. Myriad to launch prostate cancer test Myriad Genetics CEO Peter Meldrum told investors the company expects to launch a diagnostic test for prostate cancer within 12 months. The company makes tests to assess the risk of developing disease based on genetic makeup and is launching a colon cancer test this month. Myriad also makes a breast cancer diagnostic test. The company also develops drugs and is working on an HIV treatment Meldrum said could "represent a whole new class" of drugs for the disease. Tularik working on diabetes treatment Tularik CFO Corinne Lyle said the company is at work on a novel diabetes compound that does not cause weight gain like leading diabetes drugs Actos made by Eli Lilly and Avandia made SmithKline-Beecham. She said the treatment could also reduce other side effects such as anemia and edema. While still early stage the company should begin Phase I trials of the diabetes drug in 6 to 12 months, Lyle said. Celera sees mouse genome sequenced by year end Celera Genomics is on track to complete sequencing of the mouse genome by the end of the year. Analysts speculate that the sequencing could be finished in October or November. Peter Barrett, Celera's chief business officer said the sequencing is progressing "faster than expected" but he declined to be more specific. Stephanie O'Brien is a reporter for CBS.MarketWatch.com.

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