The Medicines Company Reports Second-Quarter And First-Half 2015 Financial Results
PARSIPPANY, N.J.--(BUSINESS WIRE)--The Medicines Company (NASDAQ:MDCO) today announced its financial results for the second quarter and first half of 2015.
Clive Meanwell, the company’s Chairman and Chief Executive Officer, stated: “As anticipated, revenue in the second quarter of 2015 fell further as purchasers continued to hold out for the potential arrival of generic Angiomax. Now, with resolution of that uncertainty we have moved on. We have contracted with Sandoz to launch an authorized generic of Angiomax; we are winding down our R&D and promotional expenditures on that product; we have reduced our workforce by 13% since the beginning of the year; focused our commercial resources on recently approved products Kengreal, Ionsys, Orbactiv, the new formulation of Minocin for Injection and Raplixa; and continued R&D investments in our potential blockbuster investigational products ALN-PCSsc (PCSK9), MDCO-216 (ApoA1-Milano), Carbavance and ABP-700. We have also been exploring a range of strategic-partnering options to accelerate our business and unlock shareholder value - and we continue to do so assiduously. As we progress in the coming quarters, we anticipate continued growth of products other than Angiomax, expect news flow from ongoing R&D projects and aim to secure strategic partnerships.”
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Clive Meanwell, the company’s Chairman and Chief Executive Officer, stated: “As anticipated, revenue in the second quarter of 2015 fell further as purchasers continued to hold out for the potential arrival of generic Angiomax. Now, with resolution of that uncertainty we have moved on. We have contracted with Sandoz to launch an authorized generic of Angiomax; we are winding down our R&D and promotional expenditures on that product; we have reduced our workforce by 13% since the beginning of the year; focused our commercial resources on recently approved products Kengreal, Ionsys, Orbactiv, the new formulation of Minocin for Injection and Raplixa; and continued R&D investments in our potential blockbuster investigational products ALN-PCSsc (PCSK9), MDCO-216 (ApoA1-Milano), Carbavance and ABP-700. We have also been exploring a range of strategic-partnering options to accelerate our business and unlock shareholder value - and we continue to do so assiduously. As we progress in the coming quarters, we anticipate continued growth of products other than Angiomax, expect news flow from ongoing R&D projects and aim to secure strategic partnerships.”
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