Millennium announces new chief executive
Millennium Pharmaceuticals has named Deborah Dunsire president and chief executive. Dunsire was previously head of Novartis' North American oncology operations and succeeds Mark Levin, co-founder and chief executive since the Company's inception 12 years ago. Dunsire plans to assume her duties by August 1.
Dunsire said a priority at Millennium would be to strengthen the sales and marketing organization, according to a report in today's New York Times.
Millennium, one of the first companies focusing on genomics, recently shifted gears to developing new drugs rather than searching for genes. The company has two drugs on the market, Integrilin for acute coronary syndrome and Velcade for multiple myeloma. Revenues form sales and alliances were $448 million last year however the company still lost an estimated $252 million.