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Millennium Earns Velcade Sales Milestone

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Millennium Pharmaceuticals will receive a $40 million payment from J&J subsidiary Ortho Biotech Products, L.P. for achieving a sales milestone in 2007 for Velcade outside the U.S. The two companies entered into an agreement in June 2003 for the commercialization and continued development of the drug. Under the terms of the agreement, Ortho Biotech and its affiliate, Janssen-Cilag, commercialize Velcade outside of the U.S. and Millennium receives royalties on sales outside of the U.S. ...

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