Weak Angiomax sales hit Medicines Company Q1 expectations
This article was originally published in Scrip
The Medicines Company is expecting weak first quarter total net revenues thanks to lower sales of Angiomax (bivalirudin), says the firm. It now expects net revenues for the anticoagulant of between $97m and $105m, down from $155.7m in the first quarter of 2014. Total net revenues are likely to reach between $125m and $130m, which marks a 26-29% drop on last year's first quarter revenues of $177.2m. The firm blames the decline on uncertainty over Angiomax's patent exclusivity in the US past June 2015 when a final decision on Hospira's patent challenge is expected. Analysts at Jefferies have reduced their price target for the firm from $27 to $26. Final first quarter results will be released in May.