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Additional Information
Market: NASDAQ
Sector: Pharmaceuticals
EPIC: MDCO
Latest Price: 21.14  (-0.24% Descending)
52-week High: 22.28
52-week Low: 12.52
Market Cap: 1,165.39M
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The Medicines Company
www.themedicinescompany.com
The Medicines Company is a global pharmaceutical company focused on advancing the treatment of critical care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace.
Full The Medicines Company profile here
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The Medicines Company's Q4 tops Street views

22nd Feb 2012, 3:13 pm by Brad Lemaire
The Medicines Company's Q4 tops Street views

The Medicines Co. (NASDAQ:MDCO) posted Wednesday better-than-expected fourth quarter earnings helped by sales from its injectable compound angiomax, an anti-coagulant approved in the U.S. for patients undergoing angioplasty procedures.

For the quarter that ended December 31, the company saw sales grow 10.5 percent to $132.2 million from $119.7 million last year.

Net income slipped to $19.6 million, or 36 cents per share, compared with a year-prior profit of $58.6 million, or $1.09 per share.

On an adjusted basis, the company said that it earned $28.7 million, or 52 cents per share.

Analysts polled by Bloomberg were predicting earnings of 24 cents per share, and revenues of $125 million.

In a statement, chief financial officer, Glenn Sblendorio, said: “We sustained consistent growth in the fourth quarter 2011, both on the revenue and profit target, and met all of our significant financial objectives in 2011.”

In the U.S., sales for angiomax – which is a compound designed to stop blood clot formation during angioplasty – jumped nearly 11 percent to $124.2 million. Sales internationally for angiomax edged upwards to $7.9 million from $7.7 million.

Research and development expenses edged up slightly to $33 million from $31 million, with selling, general and administrative costs falling to $34.9 million from $37.3 million a year earlier.

“We plan continued focus on optimizing R&D and SG&A to provide operating and geographic leverage and further expand the opportunities available to us,” Sblendorio added.

The Medicines Company provides medical solutions to improve health outcomes for patients in acute and intensive care hospitals worldwide.

The company’s share price rose 6.05 percent to $22.10 in trade on the Nasdaq on Wednesday afternoon.

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