Millennium gets neutral from Merrill

Merrill Lynch analyst Tom McGahren rated Millennium Pharmaceuticals, Inc. at neutral following meetings with management to discuss the company's strategy, opportunities and challenges. The good news is that the company plans to add a product beyond Velcade for its sales force and to grow revenue, in addition to progressing and partnering pipeline candidates. McGahren called Millennium's plan of action realistic, with the immediate task to expand Velcade's label and usage, particularly with the launch of Revlimid. Shares of the Cambridge, Mass.-based pharmaceutical company were down 34 cents, or 3.10%, at $10.64. (Nasdaq: MLNM)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.