ARTICLE | Company News

MDCO falls on mixed Angiomax decision

April 2, 2014 12:11 AM UTC

The Medicines Co. (NASDAQ:MDCO) fell $4.40 (15%) to $24.02 on Tuesday after the U.S. District Court for the District of Delaware found that two of the company's patents covering anticoagulant Angiomax bivalirudin are valid, but said the company failed to prove a generic version of bivalirudin from Hospira Inc. (NYSE:HSP) infringes those patents. The two patents expire in 2028. MDCO's other patent covering Angiomax expires on Dec. 15, 2014, and the drug is also eligible for an additional six-month pediatric exclusivity period.

The district court ruling could mean Hospira could launch its generic as early as June 15, 2015. Hospira has tentative FDA approval for its generic bivalirudin. MDCO said it is evaluating its options, including a potential appeal. Angiomax had $550.2 million in 2013 U.S. sales. ...