Millennium: no sale of company planned, will focus on pipeline product and growth

By Lisa Kerner

Charlotte, N.C., June 15 - Millennium Pharmaceuticals, Inc. responded to a market report regarding a third-party's offer to acquire the company, saying it had explored a strategic sale, according to a company news release.

The company has ended the exploration process and will continue to focus on growing sales of its cancer product Velcade (bortezomib) for Injection, progressing a pipeline of seven novel product candidates and achieving profitable growth long-term.

Millennium said it does not expect to provide further comment.

Based in Cambridge, Mass., Millennium develops and commercializes products for oncology and inflammation.

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