PerSeptive Biosystems Sells Millennium Stock
US firm PerSeptive Biosystems has sold around one half of the 1.6million shares of common stock it holds in Millennium Pharmaceuticals. It received the stock upon the acquisition by Millennium of ChemGenics Pharmaceuticals (Marketletter February 3), which had been formed by a merger of drug discovery operations between Myco Pharmaceuticals and PerSeptive Biosystems.
Noubar Afeyan, chairman and chief executive of PerSeptive Biosystems, said: "this realization of value for our shareholders further validates PerSeptive's strategy of forming alliances around our portfolio of emerging technologies. We look forward to continuing our collaboration with Millennium."
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