Date: 2016-02-01
Type of information: Pipeline acquisition
Compound: Recothrom® Thrombin topical (Recombinant), PreveLeak™ (surgical sealant), Raplixa™ (fibrin sealant)
Company: The Medicines Company (USA - NJ) Mallinckrodt (Ireland)
Therapeutic area:
Type agreement: pipeline acquisition product acquisition
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Disease:
Details: * On February 1, 2016, The Medicines Company announced that it has completed the divestiture of its hemostasis portfolio to Mallinckrodt plc. The company’s global portfolio includes three hemostasis products – Recothrom® Thrombin topical (Recombinant), PreveLeak™ (surgical sealant), and Raplixa™ (fibrin sealant). The Medicines Company received an initial payment of approximately $174 million and has the potential to receive up to $235 million in additional consideration for future milestone payments. * On December 18, 2015, The Medicines Company announced that it has entered into a purchase agreement pursuant to which certain subsidiaries of Mallinckrodt plc will acquire The Medicines Company’s global portfolio of three hemostasis products – Recothrom® Thrombin topical (Recombinant), PreveLeak™ (surgical sealant), Raplixa™ (fibrin sealant)– for a total potential consideration of up to $410 million. The Medicines Company will receive an initial payment of approximately $175 million, including inventory, at closing and has the potential to receive up to $235 million in additional consideration for future milestone payments. Subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act, the transaction is expected to close in the first calendar quarter of 2016. Leerink Partners LLC is acting as financial advisor, and WilmerHale is acting as legal advisor, to The Medicines Company.
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