Millennium's 2nd-qtr losses down to $17.7M

The USA's Millennium Pharmaceuticals says that its net income for the second quarter of 2006 improved significantly, hitting $3.9 million, compared with a non-generally-accepted accounting principles loss of $32.6 million for the second quarter last year. In addition, the company said that its losses, on a GAAP basis, had declined to $17.7 million from $44.1 million.

Velcade sales lead the way

Millennium said that the growth in US revenues from its anticancer agent Velcade (bortezomib), indicated for the treatment of relapsed multiple myeloma, which increased 34% to $58.8 million, had aided its performance.