Millennium Pharmaceuticals, Inc. (MLNM) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Icebrg who wrote (1912)	10/29/2003 3:58:45 AM
From: Icebrg	Read Replies (2) of 3044

Bayer sells stake in Millennium for $300 mln Wednesday October 29, 3:48 am ET FRANKFURT, Oct 29 (Reuters) - Germany's Bayer AG (XETRA:BAYG.DE - News) said on Wednesday it had sold its stake in U.S. biotech firm Millennium Pharmaceuticals (NasdaqNM:MLNM - News) for more than $300 million, and would use the proceeds to reduce net debt. Bayer said in a statement the 6.6 percent stake was sold to investment bank CSFB for resale. Bayer made an equity investment of around $97 million in Millennium in 1998 as part of a research pact. Bayer shares were up one percent at 20.19 euros by 0843 GMT, broadly in line with the DAX blue-chip index, up 0.87 percent. The two companies will end their research collaboration on October 31. The alliance yielded Bayer more than 180 drug targets, or proteins used to develop small molecule drugs, which it has moved into testing and drug discovery. Millennium is based in Cambridge, Massachussetts and is best known for marketing Velcade, a cancer drug. It specialises in research in cancer, cardiovasculars and inflammation.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next