Silicon Investor (SI) -- The First Internet Community

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) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (1532)	5/14/2003 8:27:42 PM
From: SemiBull	Read Replies (1) \| Respond to of 3044

Millennium CEO Is Ready To Ship Velcade Next Week Wednesday May 14, 12:29 pm ET By Hollister H. Hovey, Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Millennium Pharmaceuticals Inc. will be ready to ship its just-approved multiple myeloma drug Velcade next week, Chief Executive Officer Mark Levin said. The company has a sales force hired and trained to sell the drug, which was approved by the Food and Drug Administration (News - Websites) Tuesday evening to treat patients who have failed other treatments for the deadly blood cancer, he said on a conference call. But the company still plans to announce a partnership with a larger biotech or pharmaceutical company to help shoulder the marketing efforts sometime this quarter, a Millennium spokeswoman said. The Food and Drug Administration had until July 21 to make its decision about approving the drug for multiple myeloma, a bone marrow cancer that currently affects about 40,000 Americans. Wall Street hopes that the drug will also work in more common cancers, which could potentially make it a huge seller. The Cambridge, Mass., biotech company is running Phase II trials of Velcade on patients with colorectal cancer and non-small cell lung cancer. An early-stage trial of a the drug in non-Hodgkin's lymphoma has also commenced. But efficacy results for all those indications are fairly far out. Preliminary data - mostly safety data - around various phase I solid tumor studies will be presented at this year's American Society of Clinical Oncology, or ASCO, meeting in Chicago starting on May 31. The titles for all abstracts were just made available online on the ASCO Web site. Data for our more advanced phase II trials will be available sometime next year. Regardless of Velcade being used or approved in other kinds of cancer, Millennium has said that if it forms new strategic partnerships, monetizes non- core assets and manages its spending, it will be profitable in 2006. -By Hollister H. Hovey, Dow Jones Newswires; 201-938-5287; hollister.hovey@dowjones.com Corrected May 14, 2003 13:07 ET (1707GMT) Millennium Pharmaceuticals Inc. (NasdaqNM:MLNM - News) will be ready to ship its just-approved multiple myeloma drug Velcade next week, Chief Executive Officer Mark Levin said. (An item that crossed the wire at 12:29 p.m. EDT incorrectly identified Levin as the chief financial officer.)

To: SemiBull who wrote (1532)	5/15/2003 7:08:42 AM
From: Madharry	Respond to of 3044

that is very cute coming from Morgan Stanley. During the the Biotech bubble a Morgan Stanley biotech analyst had no problem coming up with a valuation of $250 per share for CRGN a company that had not even filed an NDA at the time. It can still be purchased for about $5 a share.