In latest deal, Melinta executes $270M pact to buy out Medicines Co’s infectious disease group
As promised, The Medicines Company has found a buyer for its infectious disease unit. Wheeling and dealing its way through the year, Melinta Therapeutics has stepped up with an agreement to acquire the group for $270 million in cash and some stock, clearing the way for The Medicines Company to concentrate on a new PCSK9 therapy.
The Medicines Company $MDCO — which has been restructuring over the past two years — also gets tiered royalties ranging up to 25% on Vabomere, Orbactiv and Minocin IV. And Melinta moves up the ladder in the antibiotics field, just three months after striking a deal to merge troubled Cempra $CEMP into the company, taking over its antibiotics pipeline and one approved therapy.
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