Medicines Company Up On Rumors Of Potential Buyout By Novartis
Zacks Investment Research | Nov 19, 2019 08:41PM ET
Shares of The Medicines Company (NASDAQ:MDCO) surged almost 20% on Nov 19 following a Bloomberg industry ’s growth of 2.5%.
Data from the studies showed that 18 months of treatment with inclisiran led to a reduction in LDL-C level of more than 50% in patients with heterozygous familial hypercholesterolemia (HeFH) and atherosclerotic cardiovascular disease (ASCVD). The patients were treated with the maximum tolerated dose of statin therapy alone or in combination with Merck’s (NYSE:MRK) Zetia. Moreover, inclisiran will also allow much less frequent dosing in patients compared to other popular LDL-C lowering drugs like Sanofi/Regeneron’s Praluent and Amgen’s Repatha. While Praluent and Repatha are approved with once every two weeks or once a month dosing, inclisiran has been developed for twice-a-year dosing.
With several drugs of Novartis set to lose patent protection over the next few years, the company is focused on strengthening its pipeline with the inclusion of next-generation treatments for several diseases. The inclusion of inclisiran in Novartis’ commercial portfolio is likely to boost its cardiovascular portfolio further.We expect that the acquisition of inclisiran by Novartis will boost the candidate’s prospects as the company has a strong position in the market and cash resources to support the launch and fight competition.
However, Novartis and The Medicines Company have not confirmed the deal. Moreover, it is rumored that there can be bidders for The Medicines Company other than Novartis.
The Medicines Company Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.