4:16 PM
 | 
Nov 29, 2017
 |  BC Extra  |  Company News

Melinta acquires Medicines Co.'s infectious disease unit

Melinta Therapeutics Inc. (NASDAQ:MLNT) will acquire the infectious disease business unit of The Medicines Co. (NASDAQ:MDCO), including marketed drugs Vabomere meropenem/vaborbactam, Orbactiv oritavancin and Minocin IV minocycline.

Medicines Co. will receive $270 million up front, comprising $55 million in Melinta stock, $165 million in cash at closing, and two cash payments of $25 million each at 12 and 18 months after closing. Medicines Co. is also eligible for tiered royalties of 5-25% on worldwide net sales of Vabomere, Orbactiv and Minocin IV.

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