Spending for a rainy day

With the length of exclusivity for its biggest drug uncertain, The Medicines Co. has chosen to use profits from sales of Angiom bivalirudin to buy a pipeline. After licensing ApoA-1 Milano from Pfizer Inc. in December, the specialty biotech now feels it has enough on its plate and can turn its focus to growing EPS.

Depending upon the outcome of a lawsuit the company filed last week against the U.S. Patent and Trademark Office and FDA, exclusivity under the original Angiomax patent will expire either in March this year, or in December 2014...