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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM) -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1411)	3/10/2003 2:54:40 PM
From: IRWIN JAMES FRANKEL	Respond to of 3044

Ice, This seems to answer the question. Millennium Up as FDA Says to Review Drug Monday March 10, 12:47 pm ET NEW YORK (Reuters) - Millennium Pharmaceuticals Inc. (NasdaqNM:MLNM - News) said U.S. regulators agreed to review the company's experimental cancer drug on a priority basis, driving its shares up as much as 15 percent. Millennium, based in Cambridge, Massachusetts, said the U.S. Food and Drug Administration (News - Websites) will review the drug, Velcade, and give an opinion on whether to approve it within six months of the filing date, which was in January. Priority review status is given to drugs designed to meet urgent medical needs. Velcade is a treatment for multiple myeloma, a blood cancer. Millennium's shares rose 86 cents to $7.87 in midday trading on Nasdaq. Earlier they rose as high as $8.08. Velcade blocks an enzyme complex in cells responsible for breaking down certain proteins that regulate cell division. Analysts do not expect sales of Velcade to be more than several hundred million, but if it were to prove effective in solid tumors such as lung cancer sales could be much higher.