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The Medicines Co Sells CV Products To Fund Pipeline

 
• By Lisa LaMotta

The Medicines Co. is selling off three cardiovascular products to Italy's Chiesi Farmaceutici SPA in an effort to raise funds to pay for R&D as top-seller Angiomax continues to decline.

The company announced May 9 that Chiesi will pay a total of $792m for three already-marketed drugs, including the newly-approved Kengreal (cangrelor). The other drugs included in the deal are the antihypertensive Cleviprex (clevidipine) and the rights to the injectable direct thrombin inhibitor Argatroban.

"Today's announcement is strong evidence of our commitment to delivering on our strategic goals, and the transaction itself is a major step in the execution of that strategic plan. We see this transaction as a spring board for further progress and growth

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