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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (58505)	4/10/2008 1:16:57 PM
From: Steve Lokness	Respond to of 543145

Lane3; AP Millennium Velcade Sales Rise 42 Percent Thursday April 10, 11:02 am ET Millennium Pharmaceuticals Sees Sales of Blood Cancer Drug Velcade Rise 42 Percent CAMBRIDGE, Mass. (AP) -- Biotechnology company Millennium Pharmaceuticals Inc. said Thursday sales of its blood cancer treatment Velcade rose 42 percent during the first quarter to $83.5 million. The drug is approved as a secondary treatment for the for multiple myeloma and the company is seeking approval for primary treatment. A Food and Drug Administration decision is expected by June 20. Late Wednesday, Japan-based Takeda Pharmaceutical Co. announced an $8.8 billion cash bid for Millennium. Takeda specializes in treatments for diabetes and cardiovascular problems, and the buyout would give it a stronger position in the cancer treatment market. The cash offer is worth about $25 per share, a premium of more than over Millennium's Wednesday closing share price of $16.35. Shares of Millennium jumped $8.11, or 50 percent, to $24.46 in morning trading.