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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 3, 2005</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>
<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>
<td align=right valign=top><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<td width=9%><font face="Times New Roman, Times, Serif" size=2><b>Item&nbsp;&nbsp;&nbsp;1.01</b></font></td>
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<td width=68% align=left><font face="Times New Roman, Times, Serif" size=2><b>Entry into a Material Definitive Agreement</b></font></td>
<td width=20% align=left><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On February 3, 2005 the Board of
Directors of Millennium Pharmaceuticals, Inc. (the &#147;Company&#148;) approved the 2005
priority goals for the Company&#146;s Success Sharing Bonus Program. The goals include:
growing sales of VELCADE&reg; (bortezomib) for Injection and INTEGRILIN&reg;
(eptifibatide) Injection, in each case by a specified dollar amount; increasing the value
of the Company&#146;s clinical and preclinical pipeline; continuing to build operational
excellence; and managing the Company&#146;s business to achieve specified non-GAAP net
loss and year-end cash balance results. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A summary of the Success Sharing Bonus Program is attached as an exhibit to this Current Report on Form 8-K and is
incorporated herein by reference.</FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>In connection with the previously
announced departure of Kenneth Bate, executive vice president and head of commercial
operations, and in addition to the Company&#146;s previously announced agreement to
provide Mr. Bate with a severance payment equal to twelve (12) months of his current base
salary of $401,362.50, on February 3, 2005, the Company agreed to provide Mr. Bate with a
payment under the Company&#146;s 2004 Success Sharing Bonus Program of $96,327, at the same
time that bonus payments are made to other participants in the program, as well as
continued health-related benefits for a period of twelve (12) months. </FONT></P>







<p align=left><font face="Times New Roman, Times, Serif" size=2><b>Item&nbsp;&nbsp;&nbsp;&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</b></font></p>

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<td align=left width=20%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left width=10%><font face="Times New Roman, Times, Serif" size=2>(c)</font></td>
<td align=left width=70%><font face="Times New Roman, Times, Serif" size=2>Exhibits</font></td>
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<td align=left width=20%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=10%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left width=70%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<td width=20%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=10%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=70%><font face="Times New Roman, Times, Serif" size=2>See Exhibit Index attached to this Current Report on Form 8-K.</font></td>
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<td align=left width=20%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=10%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td align=left width=70%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
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<p align=center><font face="Times New Roman, Times, Serif" size=2>2</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 4, 2005&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;MARSHA H. FANUCCI</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>Marsha H. Fanucci</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 Chief Financial Officer</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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<p><font face="Times New Roman, Times, Serif" size=2><b>EXHIBIT INDEX</b></font></p>

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<th width=9% align=center colspan=2><font face="Times New Roman, Times, Serif" size=2>Exhibit No.<br></font><hr noshade></th>
<th width=3%>&nbsp;</th>
<th width=68% align=center><font face="Times New Roman, Times, Serif" size=2>Description<br></font><hr noshade></th>
<th width=20% align=left><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></th>
</tr>
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<td width=3%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=6%><font face="Times New Roman, Times, Serif" size=2>10.1</font></td>
<td width=3%>&nbsp;</td>
<td width=68% align=left><font face="Times New Roman, Times, Serif" size=2>Description of Success Sharing Bonus Program of Millennium Pharmaceuticals,
                                    Inc.</font></td>
<td width=20% align=left><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
</tr>
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<td width=3%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=6%><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=3%>&nbsp;</td>
<td width=68% align=left><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
<td width=20% align=left><font face="Times New Roman, Times, Serif" size=2>&nbsp;</font></td>
</tr>
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<p align=center><font face="Times New Roman, Times, Serif" size=2>4</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 3, 2005
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 3, 2005 the Board of
Directors of Millennium Pharmaceuticals, Inc. (the "Company") approved the 2005
priority goals for the Company's Success Sharing Bonus Program. The goals include:
growing sales of VELCADE® (bortezomib) for Injection and INTEGRILIN®
(eptifibatide) Injection, in each case by a specified dollar amount; increasing the value
of the Company's clinical and preclinical pipeline; continuing to build operational
excellence; and managing the Company's business to achieve specified non-GAAP net
loss and year-end cash balance results.
A summary of the Success Sharing Bonus Program is attached as an exhibit to this Current Report on Form 8-K and is
incorporated herein by reference.
In connection with the previously
announced departure of Kenneth Bate, executive vice president and head of commercial
operations, and in addition to the Company's previously announced agreement to
provide Mr. Bate with a severance payment equal to twelve (12) months of his current base
salary of $401,362.50, on February 3, 2005, the Company agreed to provide Mr. Bate with a
payment under the Company's 2004 Success Sharing Bonus Program of $96,327, at the same
time that bonus payments are made to other participants in the program, as well as
continued health-related benefits for a period of twelve (12) months.
Item    9.01    Financial
Statements and Exhibits.
(c)
Exhibits
See Exhibit Index attached to this Current Report on Form 8-K.
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 4, 2005
By
/s/  MARSHA H. FANUCCI
Marsha H. Fanucci
Senior Vice President and Chief Financial Officer
3
EXHIBIT INDEX
Exhibit No.
Description
10.1
Description of Success Sharing Bonus Program of Millennium Pharmaceuticals,
                                    Inc.
4