Skip to main content
Premium Trial:

Request an Annual Quote

Millennium Sees Revenue Growth in Q4

NEW YORK, Jan. 28 - Millennium Pharmaceuticals today reported increased revenue for the fourth quarter of 2002.


The company said its total revenue was $96.8 million in the fourth quarter which ended December 31, up from $54.6.8 million in the same quarter of 2001. Total revenue for the 2002 year was $353 million, compared to $246 million in 2001, according to the company.


Millennium reported a net loss based on generally accepted accounting principles of $79.7 million, or $.28 per share, in the fourth quarter of 2002 compared to a net loss of $67 million, or $.30 per share, in the year-ago period. Total net loss for 2002 was $590 million, or $2.13 per share, compared to a net loss of $192 million, or $.88 per share, in 2001.


R&D spending for the fourth quarter 2002 was $146.9 million compared to $114.6 million in the same period a year ago. Total R&D spending for 2002 was $511.2 million compared to $400.6 million in 2001. Millennium said the year-over-year increase in R&D was due to expenses related to clinical testing of several of lead compounds.


Millennium also reported $1.8 billion in cash, cash equivalents, and marketable securities at the end of December 2002.


Millennium merged with COR Therapeutics in February 2002.


Click here for more information.




The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.