Merrill keeps Millennium at neutral

Millennium Pharmaceuticals, Inc. was given a neutral rating by Merrill Lynch analyst Tom McGahren on news that the company and its partner Johnson & Johnson have begun their planned phase 2 study for Velcadein combination with Alimta in the second-line treatment of non-small cell lung cancer. The study will be a phase 2, randomized open-label 135-patient study in which patients receive Velcade, Alimta or Velcade plus Alimta, with a primary endpoint of response rate based on Recist criteria. Secondary endpoints will be time to progression, progression-free survival and safety. Shares of the Cambridge, Mass., pharmaceutical company were down 10 cents, or 0.98%, at $10.13 on volume of 3,052,846 shares versus the three-month running average of 3,704,040 shares. (Nasdaq: MLNM)

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