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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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To: Richard Haugland who wrote (165)4/6/1998 5:05:00 PM
From: Richard Haugland  Read Replies (1) of 3044
 
Targeting Genes

In the genomics field, Millennium Pharmaceuticals uses its
technology platform to provide genetic targets and small molecules to
collaborative partners. It has partnerships valued at more than $700
million: Hoffmann-La Roche, Eli Lilly & Co., Astra AB, American
Home Products Corp. and Pfizer. Some of its therapeutic targets are
obesity, diabetes, cancer, atherosclerosis and respiratory disease.
Millennium recently announced an expansion of its collaborative
agreement with Pfizer for work on anti-fungal infections, a $3.5
billion market worldwide. In the plant agriculture area, it has a
five-year $118 million deal with Monsanto Co., which offers the
possibility of an additional $100 million in incentive payments.

Deepa Pakianathan of Genesis Merchant Group Securities has a
strong buy on Millennium and a 12-month price target of $45.
"Millennium's spin-out strategy is a value-building business model,
and its ability to leverage the broadly integrated technology platform
to form collaborations is positive," she says.

Pharmaceutical giant Pfizer is investing heavily in research and
development, both internally and through numerous collaborations
like those with OSI and Millennium. The company spent $1.9 billion
on R&D in 1997 and has an unprecedented new wave of products.

above from

buyside.com

MLNL did not perform much like a $45 stock today, however
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