Everyone Wins In Deal Between BMS And The Medicines Co.
This article was originally published in The Pink Sheet Daily
Bristol-Myers Squibb has agreed to license its already-marketed topical hemostat to The Medicines Company for $115 million upfront and royalties. The agreement will last for two years and add to The Medicines Co.'s portfolio of perioperative care products.
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The Medicines Co.’s transition away from near-total reliance on Angiomax seems ever closer to reality, given its full pipeline and intensive business development activities. The new products stretch beyond the hospital catheterization lab, as the company builds franchises in hospital anti-infectives, pain management, and hemostatis.
The Medicines Company agreed to pay $10 million upfront to ProFibrix for an option to acquire the company outright after Phase III data on the lead biologic, Fibrocaps, read out later this year.
The Medicines Co is capitalizing on trends prevalent in both the biopharma industry and its customer base to build one of the fastest- growing specialty pharma franchises. Results for 2012 confirm the strategy has worked to date.