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

From: Icebrg	6/28/2007 3:30:06 AM
	of 3044

Millennium Upgraded As Analyst Expects Better Velcade Sales NEW YORK (AP) -- Millennium Pharmaceuticals Inc. shares rose Wednesday after a Friedman Billings Ramsey analyst upgraded the drug maker, saying prescriptions of its cancer treatment Velcade are rising. Jim Reddoch raised his rating to "Market Perform," or "Neutral," from "Underperform," and increased his 12-month price target to $10 per share from $7. Ten analysts now have the equivalent of a "Neutral" rating on the shares, with three assigning a rating of "Sell" or the equivalent. Reddoch said prescriptions of Velcade increased 30 percent above April levels. He attributed the gains to the partnership with Ortho Biotech Products L.P. that began this year, along with the Food and Drug Administration's approval of Velcade and Doxil as a treatment for multiple myeloma. Velcade had already been approved for the blood disease. Doxil is made by Johnson & Johnson. Reddoch now expects Millennium to report $260 million in U.S. Velcade sales this year. The company forecast sales between $240 million and $260 million.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next