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

To: Icebrg who wrote (1912)	10/27/2003 7:08:18 PM
From: tuck	Read Replies (1) \| Respond to of 3044

Erik, That seems a little harsh. Bayer has to prioritize the way it spends its R&D dollars, even though they have more leeway in this area than the average biotech. Perhaps some of them could be outlicensed to third parties? Perhaps the sheer scale of the project is what slowed it down; obviously there was considerable overlap in the indications that the targets . . . targeted. So a lot of decisions had to be made. I suppose it would be better, from the strictly financial viewpoint of MLNM shareholders, if Bayer selected dozens of targets and had to pay for all of them, but that is not realistic. Cheers, Tuck

To: Icebrg who wrote (1912)	10/27/2003 7:12:01 PM
From: Miljenko Zuanic	Respond to of 3044

Sound to me that biology of this targets are far from reality, and majority is not small-compounds drugable. In addition, for those that are is hard to generate clinical candidate. Go genomic go, but where? Miljenko

To: Icebrg who wrote (1912)	10/29/2003 3:58:45 AM
From: Icebrg	Read Replies (2) \| Respond to of 3044

Bayer sells stake in Millennium for $300 mln Wednesday October 29, 3:48 am ET FRANKFURT, Oct 29 (Reuters) - Germany's Bayer AG (XETRA:BAYG.DE - News) said on Wednesday it had sold its stake in U.S. biotech firm Millennium Pharmaceuticals (NasdaqNM:MLNM - News) for more than $300 million, and would use the proceeds to reduce net debt. Bayer said in a statement the 6.6 percent stake was sold to investment bank CSFB for resale. Bayer made an equity investment of around $97 million in Millennium in 1998 as part of a research pact. Bayer shares were up one percent at 20.19 euros by 0843 GMT, broadly in line with the DAX blue-chip index, up 0.87 percent. The two companies will end their research collaboration on October 31. The alliance yielded Bayer more than 180 drug targets, or proteins used to develop small molecule drugs, which it has moved into testing and drug discovery. Millennium is based in Cambridge, Massachussetts and is best known for marketing Velcade, a cancer drug. It specialises in research in cancer, cardiovasculars and inflammation.