The Medicines Company Reports First Quarter 2008 Financial Results

The Medicines CompanyThe Medicines Company (NASDAQ: MDCO) today announced its financial results for the first quarter of 2008. Financial highlights for the first quarter of 2008:
  • Net revenue increased by 19% to $79.4 million for the first quarter of 2008 from $66.6 million for the first quarter of 2007.
  • Angiomax(R) (bivalirudin) U.S. sales increased by 16% to $76.9 million for the first quarter of 2008 from $66.3 million for the first quarter of 2007.
  • Angiomax/Angiox international net revenue in the first quarter of 2008 increased $2.2 million to $2.5 million compared to $0.3 million in the first quarter of 2007.
  • Net income for the first quarter of 2008 was $4.9 million, or $0.09 per share, compared to net income of $3.0 million, or $0.06 per share for the first quarter of 2007.
  • Excluding stock-based compensation expense and non-cash income taxes, the Company reported first quarter non-GAAP net income of $12.4 million, or $0.24 per share, compared to non-GAAP net income of $8.2 million, or $0.15 per share for the first quarter of 2007.

John Kelley, President and Chief Operating Officer, stated, "This was a strong quarter. We are pleased with the top line growth in our base business which we expect to continue. We are also excited about our other platforms for growth including expansion into Europe, near term pipeline opportunities and business development activities."

About The Medicines Company
The Medicines Company (NASDAQ: MDCO) is committed to delivering innovative, cost-effective acute care products in the worldwide hospital marketplace. The Company markets Angiomax(R) / Angiox(R) (bivalirudin) in the United States and other countries for use in patients undergoing coronary angioplasty, a procedure to clear restricted blood flow in arteries around the heart. The Company also has two products in late-stage development, Cleviprex(TM) (clevidipine butyrate) injectable emulsion and cangrelor. The Company's website is http://www.themedicinescompany.com.

Most Popular Now

AstraZeneca enters license agreement with KYM Bios…

AstraZeneca and KYM Biosciences Inc.* have entered into a global exclusive licence agreement for CMG901, a potential first-in-class antibody drug conjugate (ADC) targetin...

Pill for skin disease also curbs excessive drinkin…

Researchers from Oregon Health & Science University and institutions across the country have identified a pill used to treat a common skin disease as an "incredibly promi...

Pfizer's elranatamab receives FDA and EMA filing a…

Pfizer Inc. (NYSE:PFE) announced today that the U.S. Food and Drug Administration (FDA) has granted Priority Review for the company's Biologics License Application (BLA) ...

Pfizer receives positive FDA Advisory Committee vo…

Pfizer Inc. (NYSE: PFE) announced that the U.S. Food and Drug Administration's (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted that avail...

"Semantic similarity" leads to novel dru…

The words that researchers use to describe their results can be harnessed to discover potential new treatments for Parkinson's disease, according to a new study published...

US FDA Advisory Committee votes to support effecti…

GSK plc (LSE/NYSE: GSK) announced that the US Food and Drug Administration (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted that the avail...

Tumour cells' response to chemotherapy is driven b…

Cancer cells have an innate randomness in their ability to respond to chemotherapy, which is another tool in their arsenal of resisting treatment, new research led by the...

Nanosatellite shows the way to RNA medicine of the…

The RNA molecule is commonly recognized as messenger between DNA and protein, but it can also be folded into intricate molecular machines. An example of a naturally occur...

Gene and cell therapies to combat pancreatic cance…

Pancreatic cancer is an incurable form of cancer, and gene therapies are currently in clinical testing to treat this deadly disease. A comprehensive review of the gene an...

First nasal monoclonal antibody treatment for COVI…

A pilot trial by investigators from Brigham and Women's Hospital, a founding member of the Mass General Brigham healthcare system, tested the nasal administration of the ...

Digital twin opens way to effective treatment of i…

Inflammatory diseases like rheumatoid arthritis have complex disease mechanisms that can differ from patient to patient with the same diagnosis. This means that currently...

AI conjures proteins that speed up chemical reacti…

For the first time, scientists have used machine learning to create brand-new enzymes, which are proteins that accelerate chemical reactions. This is an important step in...