Millennium: Leaving Europe to Partners

When it comes to Europe, the biotech industry is increasingly saying "no." The latest refusenik: Millennium Pharmaceuticals Inc. That's because Schering-Plough Corp., beset by a host of management and competitive problems, had seen European sales of Millennium's eptifibatide (Integrilin) weaken and decline-and they had never been strong. Merck & Co. Inc.'s tirofiban (Aggrastat), a weak number three in the IIb/IIIa inhibitor US market, had nearly twice Integrilin's sales in Europe; Johnson & Johnson's abciximab (Reopro) had about ten times Integrilin's sales. Millennium re-acquired the European rights and then immediately sold them again, this time to GlaxoSmithKline PLC

When it comes to Europe, the biotech industry is increasingly saying "no" (See "Why Not Europe?" IN VIVO, November 2003 Also see "Why Not Europe?" - In Vivo, 1 November, 2003..) The latest refusenik: Millennium Pharmaceuticals Inc.

That's because Schering-Plough Corp. , beset by a host of management and competitive problems, had seen European sales of...

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