1. In Vivo
  2. >>Leadership

Millennium's P&L-Based Strategy and the Ortho/J&J Deal

Thanks to a disappointing set of sales numbers and a relatively small upfront fee from its new partner on the recently launched anti-cancer drug, Velcade, investors are once again wondering whether Millennium really has figured out how to be a commercial operation, not a discovery company. But in fact the deal it signed with Johnson & Johnson's Ortho Biotech unit-for ex-US marketing of Velcade is one of several recent signals that the company has focused itself firmly on the new valuation metrics: real earnings growth. The deal structure flies in the face of the most common measures of deal value, and could be as revolutionary in its implications as Millennium's discovery deals had been.

As we go to press, shares in Millennium Pharmaceuticals Inc. are slipping again. Thanks to a disappointing set of sales numbers and a relatively small up-front fee from its new partner on the recently launched anticancer drug bortezomib (Velcade), investors are once again wondering whether the company really has figured out how to be a commercial operation, not a discovery company.

But in fact the deal Millennium signed with Johnson & Johnson 's Ortho Biotech Products LP unit—for ex-US...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Leadership

Podcast: Poolbeg CEO On The Biotech’s Big Bet On Small Molecules

 
• By Jo Shorthouse

In the latest episode of the In Vivo Podcast, Jeremy Skillington, CEO of Poolbeg Pharma, discussed the company’s ambitious pipeline and strategic direction.

Infographic: How Big Pharma Is Scaling Beyond Pilot AI Projects

 
• By David Wild

Pharma leaders are shifting from AI pilots to enterprise-scale deployment, favoring external partnerships for efficiency gains while maintaining tight control over sensitive clinical data.

Podcast: Inside MoonLake’s Fast-Track Vision And $500m Deal

 
• By Jo Shorthouse

MoonLake Immunotherapeutics is racing ahead in the biotech space with its innovative nanobody SLK and a transformative $500m non-dilutive financing deal. In this episode, its CEO and CFO discuss the company’s rapid clinical progress, financial strategy and ambitions to reshape inflammatory disease.

Rising leaders 2025: Aneesh Karatt-Vellatt On Maxion Therapeutics’ Antibody Revolution

 
• By Jo Shorthouse

Aneesh Karatt-Vellatt is leading the charge to redefine how ion channels and G protein-coupled receptors (GPCRs) are targeted with antibody therapies, one of the most notoriously challenging classes of drug targets.

More from In Vivo

video
Sponsored by:

Meeting the demands of the global biologics market

Lonza is addressing the growing global demand for biologics by utilizing its expert teams and the advanced capabilities of its newly acquired large-scale manufacturing site in Vacaville, California. Joanna McCafferty, Director of Commercial Development, shares more in this brief video. Ask ChatG

Mapping The Power And Potential Of Europe’s Market Access Collaborations

 
• By Leela Barham

Understand who’s influencing access decisions and how pharma can engage strategically across the continent.

Infographic: How Big Pharma Is Scaling Beyond Pilot AI Projects

 
• By David Wild

Pharma leaders are shifting from AI pilots to enterprise-scale deployment, favoring external partnerships for efficiency gains while maintaining tight control over sensitive clinical data.