Chiesi set to acquire Medicine Co cardiovascular assets, say reports
Italian pharmaceutical company Chiesi are set to expand their global footprint as it nears an agreement to acquire Medicines Co’s cardiovascular assets.
Reuters sources claim that the pair are in the final stages of negotiating the sale of its main cardiovascular drugs, with the exception of Angiomax which lost patent protection last year. Other drugs in the portfolio include Angiox, Cleviprex and Kengreal.
It has been indicated that the deal will call for initial upfront payments followed by subsequent milestone payouts tied to specific performance targets, although no concrete figures have emerged as yet.
Selling off some of its commercialised assets has been a strategy employed by Medicines Co in order to raise money for the development of its promising suite of pipeline drugs, which include two next-generation treatments for heart disease.
In December, Medicines Co agreed to sell its portfolio of haemostasis treatments to Mallinckrodt for $410 million.
Medicines Co shares were up 3.5% this morning.
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