The Medicines Company Signs Agreement to Sell ANGIOMAX (bivalirudin) in Australia
ANGIOMAX Now Licensed in 23 Countries Around the World
CAMBRIDGE, Mass.--(BW HealthWire)--Jan. 8, 2002--The Medicines Company (NASDAQ:MDCO - news) announced today that it has entered into an agreement with CSL Limited to act as exclusive and authorized distributor for ANGIOMAX® (bivalirudin) in Australia. CSL Limited is a global pharmaceuticals and healthcare company established in 1916 in Australia with over 3,500 employees located in Europe, North America, Australia and New Zealand. Earlier in the year, The Medicines Company announced several other marketing and distribution agreements for countries in Europe, Latin and South America and the Middle East, with this agreement marking the 23rd country in which ANGIOMAX is out-licensed. The Medicines Company currently markets Angiomax in the United States and New Zealand as an anticoagulant for use during angioplasty.
Under the agreement, CSL will manage and fund all regulatory and reimbursement filings for ANGIOMAX in Australia. If regulatory approval is obtained, CSL will exclusively distribute and market ANGIOMAX in Australia. The Medicines Company will exclusively supply ANGIOMAX to CSL and The Medicines Company will share the revenues from the sale of ANGIOMAX under a predetermined formula. CSL has committed to increasing revenues of the product during the first three years of marketing in Australia. Previously, CSL had a license to market ANGIOMAX in Australia from Biogen, the original inventor and early developer of the product.
``We are pleased to establish this partnership with such a strong Australian marketing partner in CSL. Their early involvement with the product means that CSL understands the history as well as the nature of the opportunity ahead,'' stated Clive Meanwell, MD, PhD, Chairman of The Medicines Company. ``We look forward to growing a global brand with CSL's help in Australia.''
The Medicines Company was founded in 1996 to acquire, develop and commercialize selected pharmaceutical products in late stages of development and approved products. In December 2000, the Company received marketing approval from the U.S. Food and Drug Administration for ANGIOMAX® (bivalirudin) for use as an anticoagulant in combination with aspirin in patients with unstable angina undergoing coronary balloon angioplasty. The Company began selling ANGIOMAX in the United States in January 2001. The Company expects ANGIOMAX to be the cornerstone product of a planned acute hospital franchise. The Company is also developing a second product, CTV-05, a proprietary biotherapeutic agent with a potentially broad range of applications in the treatment of gynecological and reproductive infections. Additional information about the company and its products can be found at www.themedicinescompany.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words, ``believes,'' ``anticipates,'' ``plans,'' ``expects,'' ``intends,'' and similar expressions are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from the expectations described in these forward-looking statements are set forth under the caption ``Certain Factors that May Affect Future Results'' in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 14, 2001 and incorporated herein by reference. These risk factors include risks as to the commercial success of ANGIOMAX; whether ANGIOMAX will receive regulatory approval in countries other than the United States and New Zealand; how long the Company will be able to operate on its existing capital resources; whether the Company's products (other than ANGIOMAX for its approved indication) will advance in the clinical trials process, the timing of such clinical trials, whether the clinical trial results will warrant continued product development, whether and when, if at all, the Company's products will receive approval from the U.S. Food and Drug Administration or equivalent regulatory agencies, and for which indications, and, if such products receive approval, whether they will be successfully marketed; the Company's history of net losses; and the Company's dependence on third parties, including manufacturers, suppliers, collaborators and distributors such as CSL. We do not assume any obligation to update any forward-looking statements.
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Contact:
The Medicines Company
Peyton Marshall
Chief Financial Officer
or
Jill Sawdon
Director of Corporate Communications
(617) 225-9099 (ph) |
