(Reuters) - July 2 - Biotechnology company Medicines Co. said it reacquired all development, commercial and distribution rights in Europe for Angiox, its anticoagulant used in angioplasty, from Nycomed.
Under the terms, Medicines will pay Nycomed $20 million now and another $20 million in 2008. Medicines would also pay $5 million when European health regulators approve an expanded Angiox product label to include findings of a trial. Medicines would recognize additional revenue from the sales of Angiox starting July 1 and would begin to incur operating expenses, including reimbursement of commercial services provided by Nycomed during a transition period.
Read more at Reuters.com Mergers News
Under the terms, Medicines will pay Nycomed $20 million now and another $20 million in 2008. Medicines would also pay $5 million when European health regulators approve an expanded Angiox product label to include findings of a trial. Medicines would recognize additional revenue from the sales of Angiox starting July 1 and would begin to incur operating expenses, including reimbursement of commercial services provided by Nycomed during a transition period.
Read more at Reuters.com Mergers News
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