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News Breaks
December 12, 2012
07:02 EDTBMY, MDCOThe Medicines Co., Bristol-Myers sign global alliance pact for Recothrom
The Medicines Company (MDCO) and Bristol-Myers Squibb Company (BMY) announced that the companies have signed a global license and two year collaboration for Recothrom, a recombinant thrombin approved by the U.S. Food and Drug Administration for use as a topical hemostat to control non-arterial bleeding during surgical procedures. Recothrom net revenues in 2011 were $65M. The product is currently commercially available in the United States and Canada. The intellectual property license agreement is global and The Medicines Company anticipates pursuing approvals in additional countries. Under terms of the agreement, The Medicines Company will pay Bristol-Myers Squibb an upfront collaboration payment of $105M and an upfront option fee of $10M. The Medicines Company has also agreed to pay Bristol-Myers Squibb a tiered royalty on annual net revenues of Recothrom during the two-year collaboration term. Bristol-Myers Squibb will retain responsibility for the manufacturing of Recothrom and will be The Medicine Company's exclusive supplier of Recothrom during the term of the agreement. The option enables The Medicines Company to acquire the Recothrom assets for a purchase price based on average net sales during the two-year collaboration term. The transaction is expected to be accretive to EPS for The Medicines Company in 2013. The transaction is expected to be minimally accretive to EPS for Bristol-Myers Squibb in 2013 and 2014.
News For MDCO;BMY From The Last 14 Days
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April 15, 2015
07:57 EDTMDCOThe FDA Cardiovascular & Renal Drugs Advisory Committee to hold a meeting
The Committee discusses The Medicines Company's New Drug Application (NDA) 204958 Cangrelor injection for proposed indication of reduction of thrombotic cardiovascular events at a meeting being held at FDA Silver Spring, Maryland offices on April 15 at 8 am. Webcast Link
07:41 EDTBMYEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
07:03 EDTBMYLexicon and Bristol-Myers select development candidate for neuropathic pain
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07:01 EDTMDCOThe Medicines Co. stock trading halted today
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April 13, 2015
11:13 EDTMDCOFDA panel briefing docs look positive for Medicines Co., says Leerink
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10:15 EDTMDCOHigh option volume stocks
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April 10, 2015
07:09 EDTMDCOThe Medicines Co. outlook still upbeat after preannouncement, says RBC Capital
After The Medicines Co preannounced lower than expected Q1 revenue, RBC Capital remains upbeat on the company's outlook, citing what it sees as the success of the company's gram negative franchise, its progress on earlier stage, cardiovascular candidates, and approval of and revenue support from up to four products in the near-term. The firm says the shares are "fundamentally inexpensive," while the company has a number of upcoming catalysts. It trimmed its price target on the shares to $37 from $38 but keeps an Outperform rating on the stock.
06:46 EDTMDCOThe Medicines Co. selloff a buying opportunity, says Leerink
Leerink views the selloff in shares of The Medicines Co. after the company preannounced weaker than expected Q1 revenue as a buying opportunity. The firm expects upcoming pipeline catalysts to create value in 2015. It thinks more visibility into four new products with significant revenue potential will move the stock higher. Leerink believes the preannouncement, driven by hospital customers buying fewer products due to the potential for a generic Angiomax to become available, should not come as a surprise. It keeps an Outperform rating on The Medicines Co.
April 9, 2015
16:32 EDTMDCOThe Medicines Co. down 15% after weaker than expected Q1 guidance
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16:16 EDTMDCOThe Medicines Co. to resume trading at 4:30 pm ET
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16:03 EDTMDCOThe Medicines Co. reports preliminary Q1 revenue $125M-$130M, consensus $184.17M
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16:01 EDTMDCOThe Medicines Co. trading halted, pending news
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April 8, 2015
08:08 EDTBMYuniQure price target raised to $50 from $28 at Leerink
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08:06 EDTBMYBristol-Myers completes acquisition of Flexus Biosciences
Bristol-Myers Squibb Company announced that it has completed the previously announced planned acquisition of Flexus Biosciences, Inc. The transaction includes full rights to F001287, Flexus’ lead preclinical, small-molecule IDO1-inhibitor targeted for IND filing in the second half of 2015 and an IDO/TDO discovery program that includes its IDO-selective, IDO/TDO dual and TDO-selective compound libraries. A newly formed entity established by the current shareholders of Flexus will retain, from and after the closing, all non-IDO/TDO assets of Flexus including those related to Flexus’ Phase 1 FLT3 and CDK4/6 inhibitor, its earlier stage small-molecule Treg cancer immunotherapy programs, and its current personnel and facilities.
April 7, 2015
07:14 EDTBMYEyeforpharma to hold a summit
Philadelphia 2015 Commercial Pharma Summit is being held in Philadelphia on April 7-8.
April 6, 2015
16:17 EDTBMYOn The Fly: Closing Wrap
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12:44 EDTBMYOn The Fly: Midday Wrap
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12:13 EDTBMYuniQure price target raised to $40 from $35 at Piper Jaffray
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08:13 EDTBMYCelldex announces initiation of Phase 1/2 study of Varlilumab combination
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07:33 EDTBMYBristol-Myers announces strategic collaboration with uniQure
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