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Millennium Reports Outstanding Third-Quarter Results Driven by VELCADE(R) (Bortezomib) for Injection Sales
Date:11/1/2007

approximately $25 million and restructuring charges of approximately

$15 million. There could be additional charges excluded from the

Company's GAAP net loss, to arrive at non-GAAP net income, which are

dependent on unknown future events and are difficult to predict and

estimate at this time.

Contacts:

Kyle Kuvalanka (investors) Jennifer Snyder (media)

(617) 761-4734 (617) 444-1439

Millennium Pharmaceuticals, Inc.

Condensed Consolidated Statements of Operations

(unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

(in thousands, except per share

amounts)

Revenues:

Net product sales $70,360 $53,161 $191,550 $165,320

Revenue under strategic

alliances 10,628 17,196 38,168 82,990

Royalties 41,344 33,737 116,617 98,382

Total revenues 122,332 104,094 346,335 346,692

Costs and expenses:

Cost of sales 6,931 6,730 17,668 36,660

Research and development (Note 1) 72,551 73,436 217,162 235,343

Selling, general and

administrative (Note 1) 42,949 34,365 129,506 107,221

Restructuring 1,667 1,352 13,050 5,737

Amortization of intangibles 8,488 8,488 25,462 25,462

Total costs and expenses 132,586 124,371 402,848 410,423

Loss from operations (10,254) (20,277) (56,513) (63,731)

Other income (expense):

Investment in
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SOURCE Millennium Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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