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Financial Report: Millennium

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Millennium

4Q Revenues: $140.1 million (+15%)

4Q Earnings: $8 million (loss of $43.9 million 4Q2005)

FY Revenues: $486.8 (-13%)

FY Loss: $44 million (loss of $198.2 million FY2005)

Comments: For the year, Velcade sales in the U.S. were $220.5 million, up 15%. Narrowed loss is attributed to the increase in U.S. Velcade sales, the decrease in operating expenses, and a $56.7 million reduction in restructuring charges. In December 2006, the FDA granted full approval of Velcade for the treatment of mantle cell lymphoma.

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