CAMBRIDGE, Mass.--Following an alliance with Bayer, Millennium Pharmaceuticals said it has reached over $1 billion in potential pharmaceutical partnership funding. As a result, assuming the Millennium-Bayer alliance receives US Federal Trade Commission approval by year-end as anticipated, the company expects to be profitable for 1998, close the year with over $160 million in cash on-hand, and be poised to leverage its strengthened financial position to expand its drug discovery and development capabilities.
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