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Alliances Pay Off as Millennium s Q3 Loss Narrows

NEW YORK, Oct. 16 - Millennium Pharmaceuticals on Tuesday reported narrowed third-quarter losses as revenue from strategic alliances nearly doubled. 

The Cambridge, Mass.-based company said its loss from operations narrowed to $9.5 million, or 4 cents a share, from a loss of $31.9 million, or 16 cents, year over year. 

Revenues from alliances grew to $82 million over the current quarter from $44 million over the same period last year.

Results from both periods exclude acquisition-related charges. 

Including one-time items, the net loss in the quarter ended Sept. 30 was 11 cents a share compared with a loss of 49 cents for the same period one year ago. 

Analysts polled by Thomson Financial/First Call predicted a loss of 15 cents for the quarter.

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