Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, December 4, 2013

Medicines Co buys antibiotic-maker Rempex, (NASDAQ: MDCO)

Medicines Co on Wednesday said it acquired privately held Rempex Pharmaceuticals Inc, which develops medicines against drug-resistant bacteria, for $140 million and potential future milestone payments of up to $334 million. Medicines Company said it acquires several anti-infective drugs as part of the deal, including a promising experimental medicine called Carbavance that has completed early-stage trials.The company said it will continue to develop other experimental drugs from Rempex that also treat gram-negative bacteria in hospital settings.

The Medicines Company is a pharmaceutical company focused on the treatment of critical care patients through the delivery of medicines to the global hospital marketplace. Shares of MDCO remained unchanged at $36.55. In the past year, the shares have traded as low as $21.39 and as high as $38.52. On average, 836672 shares of MDCO exchange hands on a given day and today's volume is recorded at 0.