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<font face="Times New Roman, Times, Serif" size=5><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br></b></font>
<font face="Times New Roman, Times, Serif" size=2>Washington, DC 20549</font>
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<font face="Times New Roman, Times, Serif" size=5><b>FORM 8-K<br>
<br></b></font></p>
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<font face="Times New Roman, Times, Serif" size=5><b>CURRENT REPORT</b></font><br><font face="Times New Roman, Times, Serif" size=2><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934<br></b></font></p>
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<font face="Times New Roman, Times, Serif" size=2>Date of Report&nbsp;&nbsp;(Date of earliest event reported):&nbsp;&nbsp;&nbsp;&nbsp;February 6, 2006</font><br></p>
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<font face="Times New Roman, Times, Serif" size=5><b>MILLENNIUM PHARMACEUTICALS, INC.</b></font><br><font face="Times New Roman, Times, Serif" size=2>(Exact name of registrant as specified in its charter)</font></p>
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<td width=33% align=center valign=top><font face="Times New Roman, Times, Serif" size=2><b>Delaware</b></font></td>
<td width=34% align=center valign=top><font face="Times New Roman, Times, Serif" size=2><b>0-28494</b></font></td>
<td width=33% align=center valign=top><font face="Times New Roman, Times, Serif" size=2><b>04-3177038</b></font></td>
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<td width=33% align=center valign=top><font face="Times New Roman, Times, Serif" size=2>(State or other jurisdiction<br>of incorporation)</font></td>
<td width=34% align=center valign=top><font face="Times New Roman, Times, Serif" size=2>(Commission file number)</font></td>
<td width=33% align=center valign=top><font face="Times New Roman, Times, Serif" size=2>(IRS&nbsp;Employer<br>Identification&nbsp;No.)</font></td>
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<p align=center><font face="Times New Roman, Times, Serif" size=2><b>40 Landsdowne Street<br>Cambridge, Massachusetts 02139</b><br>
(Address of principal executive offices)&nbsp;(zip code)</font></p>

<p align=center><font face="Times New Roman, Times, Serif" size=2><b>(617)&nbsp;&nbsp;679-7000<br></b>
(Registrant's telephone number, including area code)</font></p>

<p align=center><font face="Times New Roman, Times, Serif" size=2><b>Not applicable<br></b>
(Former name or former address if changed since last report)</font></p>

<p align=left><font face="Times New Roman, Times, Serif" size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</font></p>

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<td align=right valign=top width=3%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=right valign=top width=1%><font face="Times New Roman, Times, Serif" size=2>&#144;</font></td>
<td align=right valign=top width=2%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left valign=top width=94%><font face="Times New Roman, Times, Serif" size=2>Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&#144;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left valign=bottom><font face="Times New Roman, Times, Serif" size=2>Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&#144;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left valign=bottom><font face="Times New Roman, Times, Serif" size=2>Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&#144;</font></td>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left valign=bottom><font face="Times New Roman, Times, Serif" size=2>Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr>
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<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<p align=left><font face="Times New Roman, Times, Serif" size=2><b>Item&nbsp;&nbsp;1.01&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.
</b></font></p>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On February 6, 2006, Millennium
Pharmaceuticals, Inc. (the &#147;Company&#148;) and Stephen M. Gansler entered into an
employment agreement under which Mr. Gansler will serve as Senior Vice President, Human
Resources of the Company effective as of the date of his employment which is expected to
be February 21, 2006. Under the agreement, the Company will pay Mr. Gansler an annual base
salary of $325,000 and he will be eligible to participate in the Company&#146;s 2006
Success Sharing Bonus Program with a target bonus of 35% of his annual salary. He will
also be eligible to receive a sign-on bonus of $50,000 on the date of the first paycheck
following the commencement of his full-time employment. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mr. Gansler&#146;s employment with the Company is at-will and may be terminated by
          the Company at any time with or without cause. If his employment with the
          Company is terminated by the Company without Justifiable Cause or by him for
          Good Reason (each as defined in the agreement) then, subject to certain
          conditions, the Company is obligated to pay him severance payments equal to
          twelve months&#146; salary. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company will grant Mr. Gansler
options to purchase a total of 75,000 shares of the Company&#146;s common stock, $.001 par
value per share. One third of the total number of shares will be granted to him on the
last day of the calendar month in which he commences full-time employment with the Company
and one third will be granted on the last day of each of the next two succeeding calendar
months. The exercise price of the options will be equal to the fair market value of the
Company&#146;s common stock on the date of each grant. All options will vest as to one
fourth of the shares on the first anniversary of his commencement of full-time employment
with the Company and as to one forty-eighth of the shares monthly thereafter until all
shares are vested, provided that he remains employed by the Company. In addition to the
stock options, the Company will issue to Mr. Gansler 20,000 shares of restricted stock of
which one fourth will vest on each of the first, second, third and fourth anniversaries of
the commencement of his employment with the Company, provided he is employed by the
Company on those dates. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Under the terms of the option grants
and the grant of restricted stock, if Mr. Gansler dies while employed by the Company, the
options and restricted stock will vest immediately and the options will remain exercisable
until the earlier of three years following the date of death or ten years after the date
of grant. The options and restricted stock will fully vest if he terminates his employment
for good reason or his employment is terminated by the Company without cause during the
period one month before through one year after a change in control. Each option terminates
on the earlier of (i) ten years from the date of grant or (ii) the date three months after
Mr. Gansler ceases to serve as a director or employee (except in the case of disability,
the date one year after the date of disability). If Mr. Gansler retires after ten years of
employment with the Company and is at least 55 years of age, the options will terminate on
the date three years after the date of retirement or the date the option expires, if
earlier. </FONT></P>








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<p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b><a name="sig">SIGNATURE</a></b></font></p>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.</font></p>




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<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td colspan=2><font face="Times New Roman, Times, Serif" size=2>MILLENNIUM PHARMACEUTICALS, INC.<br>(Registrant)<br><br></font></td>
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<td width=30%><font face="Times New Roman, Times, Serif" size=2>Date: February 10, 2006&nbsp;</font></td>
<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=4%><font face="Times New Roman, Times, Serif" size=2>By&nbsp;</font></td>
<td width=36% align=left><font face="Times New Roman, Times, Serif" size=2>/s/&nbsp;&nbsp;LAURIE B. KEATING</font></td>
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<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=4%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=36% align=left><font face="Times New Roman, Times, Serif" size=2></font><hr noshade></td>
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<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=4%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=36% align=left><font face="Times New Roman, Times, Serif" size=2>Laurie B. Keating</font></td>
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<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=30%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=4%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=36% align=left><font face="Times New Roman, Times, Serif" size=2>Senior Vice President and General Counsel</font></td>
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<p align=center><font face="Times New Roman, Times, Serif" size=2>3</font></p>
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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report  (Date of earliest event reported):    February 6, 2006
MILLENNIUM PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
0-28494
04-3177038
(State or other jurisdiction
of incorporation)
(Commission file number)
(IRS Employer
Identification No.)
40 Landsdowne Street
Cambridge, Massachusetts 02139
(Address of principal executive offices) (zip code)
(617)  679-7000
(Registrant's telephone number, including area code)
Not applicable
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item  1.01    Entry into a Material Definitive Agreement.
On February 6, 2006, Millennium
Pharmaceuticals, Inc. (the "Company") and Stephen M. Gansler entered into an
employment agreement under which Mr. Gansler will serve as Senior Vice President, Human
Resources of the Company effective as of the date of his employment which is expected to
be February 21, 2006. Under the agreement, the Company will pay Mr. Gansler an annual base
salary of $325,000 and he will be eligible to participate in the Company's 2006
Success Sharing Bonus Program with a target bonus of 35% of his annual salary. He will
also be eligible to receive a sign-on bonus of $50,000 on the date of the first paycheck
following the commencement of his full-time employment.
Mr. Gansler's employment with the Company is at-will and may be terminated by
          the Company at any time with or without cause. If his employment with the
          Company is terminated by the Company without Justifiable Cause or by him for
          Good Reason (each as defined in the agreement) then, subject to certain
          conditions, the Company is obligated to pay him severance payments equal to
          twelve months' salary.
The Company will grant Mr. Gansler
options to purchase a total of 75,000 shares of the Company's common stock, $.001 par
value per share. One third of the total number of shares will be granted to him on the
last day of the calendar month in which he commences full-time employment with the Company
and one third will be granted on the last day of each of the next two succeeding calendar
months. The exercise price of the options will be equal to the fair market value of the
Company's common stock on the date of each grant. All options will vest as to one
fourth of the shares on the first anniversary of his commencement of full-time employment
with the Company and as to one forty-eighth of the shares monthly thereafter until all
shares are vested, provided that he remains employed by the Company. In addition to the
stock options, the Company will issue to Mr. Gansler 20,000 shares of restricted stock of
which one fourth will vest on each of the first, second, third and fourth anniversaries of
the commencement of his employment with the Company, provided he is employed by the
Company on those dates.
Under the terms of the option grants
and the grant of restricted stock, if Mr. Gansler dies while employed by the Company, the
options and restricted stock will vest immediately and the options will remain exercisable
until the earlier of three years following the date of death or ten years after the date
of grant. The options and restricted stock will fully vest if he terminates his employment
for good reason or his employment is terminated by the Company without cause during the
period one month before through one year after a change in control. Each option terminates
on the earlier of (i) ten years from the date of grant or (ii) the date three months after
Mr. Gansler ceases to serve as a director or employee (except in the case of disability,
the date one year after the date of disability). If Mr. Gansler retires after ten years of
employment with the Company and is at least 55 years of age, the options will terminate on
the date three years after the date of retirement or the date the option expires, if
earlier.
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
MILLENNIUM PHARMACEUTICALS, INC.
(Registrant)
Date: February 10, 2006
By
/s/  LAURIE B. KEATING
Laurie B. Keating
Senior Vice President and General Counsel
3