The Medicines Company (MDCO) specializes in acute care hospital cardiology products. It acquires and develops products that are either in the later stages of clinical development or are already on the market.
Its lead product is Angiomax, an anticoagulant approved in the U.S. and other countries for use in patients undergoing coronary angioplasty procedures. Recent positive data from two trials, ACUITY and HORIZON, has helped boost Angiomax sales in the past few quarters. We think this trend will continue. We are also looking forward to the Cleviprex ramp and an interim analysis on phase III candidate, Cangrelor in 2009.
However, the recent deal to acquire Targanta (TARG) and its phase III candidate (oritavancin) is a distraction, in our opinion. We do not see oritavancin on the market until 2012 at best. As such, our rating is now Hold.
Read the full analyst report on MDCO
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