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Cambridge, Mass., Biotech Firm Wins FDA Approval for Cancer-Fighting Drug.
By Naomi Aoki, The Boston Globe Knight Ridder/Tribune Business News
May 14--Millennium Pharmaceuticals Inc. won regulatory approval for its cancer-fighting drug Velcade, putting the Cambridge biotechnology company a year ahead of its initial schedule in bringing its second drug to market.
Velcade has shown great promise in treating patients with advanced multiple myeloma. The disease, the second most common blood-borne cancer, is expected to kill 11,000 patients in the United States this year.
Sales of the drug could reach between $150 million and $200 million a year, analysts estimate. That would move the 10-year-old company closer to its goal …
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