Millennium kept at neutral by Merrill

Merrill Lynch analyst Tom McGahren maintained Millennium Pharmaceuticals, Inc. at a neutral rating on news that Genzyme increased its offer to acquire AnorMED to $13.50 per share, or $580 million, from $8.55 per share. This tops Millennium's offer of $12.00 per share or $515 million. According to the analyst, Millennium would be overpaying for AnorMED if it raised its bid any higher. Shares of the Cambridge, Mass.-based pharmaceutical company were down 3 cents, or 0.30%, at $10.01. (Nasdaq: MLNM)

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