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Executive Summary

Cambridge, Mass.-based biotechnology firm expects to become Aone of the top 10 pharmaceutical companies,@ CEO Mark Levin declared at the Chase H&Q Healthcare Conference Jan. 10-13 in San Francisco. The firm anticipates gaining approval for at least two products in 2000 and plans to get Aat least 10 important molecules in the clinic@ this year, Levin said. Millennium=s nearest term project is the oncology agent Campath for the treatment of fludarabine-refractory chronic lymphocytic leukemia, which will be copromoted by Schering AG. Millennium acquired Campath with its acquisition of LeukoSite in the fall of 1999. FDA has designated Campath for a fast track review; it could be approved by mid-2000 (AThe Pink Sheet@ Aug. 30, 1999, p. 21)

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