Millennium Pharmaceuticals, Inc. (MLNM) Message Board

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

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From: Icebrg	7/24/2005 3:05:48 PM
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Schering-Plough (nyse: SGP - news - people ) announced an agreement with Millennium Pharmaceuticals (nasdaq: MLNM - news - people ) to obtain sole developmental and marketing rights for Integrilin, a heart drug previously co-promoted by the two firms. Schering-Plough said it will pay Millennium an upfront payment of $35.5 million, along with future royalty payments, and will purchase existing inventories for $45 million to $50 million. Credit Suisse First Boston said last Wednesday a "potential trading opportunity" has emerged for the stock ahead of Millennium's second-quarter earnings report on July 28. "The Street is already looking for soft Velcade numbers," said CSFB. "However, new CEO Deborah Dunsire could please the Street if she indicates a real commitment to optimizing the value of Velcade. This could occur if Millennium became serious about cost reductions, were to divest Integrilin or add a drug for hematological malignancies to ride shotgun with Velcade." Millennium shares gained more than 4% in after-hours trading. [Point two now taken care of]. Erik forbes.com

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