An update on a patent dispute sent two drug stocks in opposite directions Tuesday. The Medicines Company (MDCO) saw analysts cut its price target, leading to a 15% drop in its shares in morning trading on the stock market today, after the company reported bad news in its patent dispute with Hospira (HSP) late Monday. Hospira stock was up 1.5% in morning trading Tuesday. The case concerns Hospira’s attempt to bring out a generic version of
Drugmaker the Medicines Co. (MDCO) was suffering both on the stock market and in analyst opinion Thursday, a day after an FDA panel voted against approving its anti-platelet drug cangrelor. On Wednesday, trading on the firm’s shares were halted on the stock market after the panel voted 7-2 against approving the drug, which would be used to prevent clotting in patients undergoing cardiac stent procedures. The panel criticized the design of one of
Biotech Medicines Co. (MDCO) said Wednesday that it had acquired antibiotics developer Rempex Pharmaceuticals, and Medicines Co. stock was up more than 4% in morning trading on the stock market today. Rempex has one product on the market, Minocin IV for Acinetobacter infections, which Medicines Co. will take over marketing. The company plans to file for approval of a new, improved Minocin next year, and the press release also highlighted the