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EXHIBIT 99.1
MILLENNIUM PRICES OFFERING OF $704 MILLION OF ITS COMMON STOCK
CAMBRIDGE, MASS., OCTOBER 6, 2000--Millennium Pharmaceuticals, Inc. (Nasdaq:
MLNM) today announced that it had entered into an agreement to sell
11 million shares of its common stock at a price of $64 per share in a public
offering. The net proceeds of the offering will be used for working capital
and other general corporate purposes.
The Company has granted the underwriters an option to purchase up to
1.65 million additional shares to cover over-allotments. Goldman, Sachs & Co.
and Morgan Stanley Dean Witter jointly managed the offering, which was
co-managed by Robertson Stephens, Inc. and Credit Suisse First Boston
Corporation. Copies of the prospectus relating to the offering may be
obtained from the offices of Goldman Sachs & Co., 85 Broad Street, New York,
New York 10004.
Millennium, a leading biopharmaceutical company, applies its comprehensive
and integrated science and technology platform for the discovery and
development of breakthrough therapeutic and predictive medicine products,
with a goal of delivering personalized medicine. Through the
industrialization of this gene-to-patient platform, Millennium is also
striving to accelerate the process of drug discovery and development.
Headquartered in Cambridge, Massachusetts, Millennium currently employs more
than 1,000 people.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND
UNCERTAINTIES. FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM THOSE INDICATED IN SUCH FORWARD LOOKING STATEMENTS ARE DESCRIBED IN
FILINGS MADE BY MILLENNIUM WITH THE SECURITIES AND EXCHANGE COMMISSION,
INCLUDING BUT NOT LIMITED TO THE FACTORS DESCRIBED IN OUR QUARTERLY REPORT ON
FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2000.
