The Medicines Company
) recently gained US Food and Drug Administration (FDA) approval
for the use of Recothrom in pediatric patients. The FDA expanded
Recothrom's label following the completion of a phase IV
open-label, single-group safety and immunogenicity study.
Recothrom, a recombinant thrombin, is a topical hemostat used
to control non-arterial bleeding during surgical procedures. With
the expansion into the pediatric population, Recothrom can now be
used in patients aged one month and above.
We note that The Medicines Co. is collaborating with
) for marketing Recothrom. The company acquired the right to
sell, distribute and market Recothrom on a global basis in Feb
The Medicines Co. made an upfront payment of $105 million plus
an option fee of $10 million to Bristol-Myers. Moreover, the
company will pay tiered royalties on product sales during the
two-year collaboration period. Bristol-Myers is responsible for
manufacturing and supplying the product to The Medicines Co. The
Medicines Co. has the option to acquire the Recothrom assets.
The Medicines Co. started selling Recothrom from Feb 8, 2013.
Recothrom sales in the US were $8.6 million. The expanded patient
population should help drive sales. Approval in additional
countries should also boost sales.
The Medicines Co. is currently a Zacks Rank #3 (Hold) stock.
We expect Angiomax to continue performing well. Moreover, we are
pleased to see management actively pursuing in-licensing deals
and acquisitions to drive growth. While we are encouraged by the
company's efforts to develop its pipeline, we were disappointed
to hear about the discontinuation of the development of phase II
candidate, MDCO-2010. Moreover, the delay in the Medicines Co.'s
plans for filing for US approval of Ionsys is disappointing.
At present, companies like
Anika Therapeutics Inc.
), both Zacks Rank #1 (Strong Buy) stocks, look
ANIKA THERAPEUT (ANIK): Free Stock Analysis
BRISTOL-MYERS (BMY): Free Stock Analysis
MEDICINES CO (MDCO): Free Stock Analysis
SANTARUS INC (SNTS): Free Stock Analysis
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