Medicines Co. Awarded BARDA Contract - Analyst Blog
06 Février 2014 - 10:55PM
Zacks
The Medicines Company’s (MDCO) subsidiary,
Rempex Pharmaceuticals, will receive up to $90 million from the
Biomedical Advanced Research and Development Authority (BARDA) for
the development of Carbavance.
The Medicines Company's Carbavance, combines a carbapenem
antibiotic with a novel beta-lactamase inhibitor, which is being
developed for the treatment of patients with multi-drug resistant
(MDR) gram-negative infections.
Under the BARDA contract, costs related to development,
manufacturing and regulatory activities for the FDA approval of
Carbavance for serious gram-negative infections will be shared.
BARDA is also planning studies for the treatment of certain
gram-negative bioterrorism agents with The Medicines Company. The
agreement covers one initial base period and seven option
periods.
BARDA will initially provide $19.8 million to The Medicines
Company. Subsequent payments (up to an additional $70 million) will
be made over six option periods. The contract is expected to close
on Jul 31, 2019 provided all the options are exercised.
We remind investors that in Dec 2013, The Medicines Company had
acquired Rempex, which focuses on developing treatments for
multi-drug resistant gram-negative bacteria infection. With this
acquisition, The Medicines Co. added several anti-infective assets
to its portfolio, the lead pipeline candidate being Carbavance.
Last month, the candidate received a Qualified Infectious Disease
Product (QIDP) designation from the FDA.
Meanwhile, Rempex intends to commence phase III studies for
Carbavance in 2014.
The Medicines Company carries a Zacks Rank #4 (Sell). Some better
ranked stocks in the pharmaceutical sector include Actelion
Ltd. (ALIOF), Alexion Pharmaceuticals,
Inc. (ALXN) and Biogen Idec Inc. (BIIB).
All these stocks carry a Zacks Rank #1 (Strong Buy).
ACTELION LTD (ALIOF): Get Free Report
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