The Medicines Company to Sell Hemostasis Products to Mallinckrodt
The Medicines Company is planning to sell its line of hemostasis products to Mallinckrodt Pharmaceuticals for up to $410 million as it aims to focus on core programs, including R&D for PCSK9 inhibition.
Three products, Recothrom, a recombinant topical thrombin; PreveLeak, a surgical sealant; and Raplixa, a powder fibrin sealant, are included in the deal.
Under a proposed agreement, The Medicines Company says it expects to receive an initial payment of about $175 million, including inventory. It also may receive up to $235 million in compensation for future milestone payments. The transaction is expected to close in the beginning of 2016.