News | Hemostasis Management | January 06, 2016

The Medicines Company Agrees to Divest Hemostasis Portfolio to Mallinckrodt

Portfolio includes Raplixa, Preveleak and Recothrom Thrombin topical for total potential consideration of up to $410 million

January 6, 2016 — The Medicines Company announced Dec. 18 it has entered into a purchase agreement pursuant to which certain subsidiaries of Mallinckrodt plc will acquire The Medicines Company’s global portfolio of hemostasis products. The deal includes Recothrom Thrombin topical (Recombinant), PreveLeak and Raplixa (fibrin sealant) for a total potential consideration of up to $410 million.

The Medicines Company will receive an initial payment of approximately $175 million, including inventory, at closing and has the potential to receive up to $235 million in additional consideration for future milestone payments. Subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act, the transaction is expected to close in the first calendar quarter of 2016.

Glenn Sblendorio, president and chief financial officer, The Medicines Company, said “This deal will deliver a substantial amount of non-dilutive capital to the company so that we can continue to focus on core programs including our research and development for PCSK9 inhibition and continue to unlock shareholder value.”

Leerink Partners LLC is acting as financial advisor, and WilmerHale is acting as legal advisor to The Medicines Company.

For more information: themedicinescompany.com

Related Content

Michigan Hospital Improves Post-CABG Outcomes Using Proactive Amiodarone Protocol
News | Cardiovascular Surgery | October 23, 2019
Proactive administration of amiodarone to patients recovering from a common heart surgery shows promise in preventing...
Gore Block Grant Supports SVS Quality Programs
News | Cardiovascular Surgery | October 17, 2019
W. L. Gore & Associates Inc. will support a new Society for Vascular Surgery (SVS) initiative to advance patient...
Heart and Lung Surgery Patients May Be at High Risk for Opioid Dependence

Image courtesy of the American Heart Association

News | Cardiovascular Surgery | August 22, 2019
The amount of opioids prescribed for patients after heart and lung surgery has a direct relationship with the risk for...
Keck School of Medicine Promotes Patient Diversity in Cardiac Surgery Clinical Trials
News | Cardiovascular Surgery | July 26, 2019
A highly competitive $4.5 million grant from the National Institutes of Health (NIH) National Heart, Lung and Blood...
Google Doodle Celebrates Coronary Artery Bypass Graft Pioneer René Favaloro
News | Cardiovascular Surgery | July 12, 2019 | Jeff Zagoudis, Associate Editor
Internet search engine giant Google unveiled a new Doodle on its homepage Friday, July 12, celebrating the life and...
Open Heart Surgery Outperforms Stents in Patients With Multivessel Disease
News | Cardiovascular Surgery | May 03, 2019
Coronary artery bypass grafting (CABG) surgery may be the best treatment option for most patients with more than one...
SherpaPak Cardiac Transport System Cleared for Pediatric and Small Donor Hearts
Technology | Cardiovascular Surgery | February 01, 2019
Paragonix Technologies Inc. recently received clearance from the U.S. Food and Drug Administration (FDA) for a design...
Transplanting Pig Hearts Into Humans One Step Closer. A pig heart, shown here, is very similar in size and anatomy to a human heart. For this reason, pigs are used extensively in pre-clinical animal testing for new implantable cardiovascular devices. If pig hearts could be used for human transplantation, it would greatly alleviate shortages of donor human hearts.

A pig heart, shown here, is very similar in size and anatomy to a human heart. For this reason, pigs are used extensively in pre-clinical animal testing for new implantable cardiovascular devices. If pig hearts could be used for human transplantation, it would greatly alleviate shortages of donor human hearts.

News | Cardiovascular Surgery | December 11, 2018
The scientific journal Nature recently published an article from Munich University Hospital which describes the long-...
Bilateral Artery Use Does Not Improve 10-Year CABG Outcomes
News | Cardiovascular Surgery | September 06, 2018
While it is firmly established that the use of one internal thoracic artery can improve life expectancy in coronary...
Overlay Init