The Medicines Company regains rights to anticoagulant

Angiox is an anticoagulant used in patients undergoing percutaneous coronary interventions (PCI), commonly referred to as angioplasty. The product is approved in 26 European markets.

The Medicines Company markets the drug as Angiomax in the US, which comprises approximately one-third of the worldwide PCI market with approximately one million procedures annually. This transaction gives The Medicines Company a direct presence in European markets where more than one million PCI procedures are performed annually, with an estimated annual growth rate above 10%, according to the company.

Under terms of the agreement, The Medicines Company will give Nycomed an initial payment of $20 million, another $5 million upon European health regulators approving an expanded Angiox product label, and $20 million in 2008.

“We believe the value proposition for Angiox is universal,” said John Kelley, president and COO of The Medicines Company. “Based on results from global clinical studies such as REPLACE-2 and ACUITY, PCI patients throughout the world, including Europe, benefit with improved outcomes and lower costs when heparin is replaced by Angiomax/Angiox.

“We expect to leverage these advantages using our team’s broad and deep experience in global product commercialization.”