Medicines Co. skips into the black for Q3, partly due to Angiomax sales

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The Medicines Company has pulled itself out of the red and posted a strong net income for the 2010 third quarter, compared with the same fiscal period in 2009.

The net income was $21.2 million in this year’s fiscal third quarter, compared with a net loss of $3.2 million for the third quarter 2009. Likewise, the company reported that its net revenue increased to $105.7 million for the third quarter from $98.8 million for the third quarter 2009.

Specifically, Medicines said its anticoagulant bivalirudin (Angiomax) U.S. sales increased 9 percent to $100.2 million, compared with $92.2 million for the third quarter 2009. Likewise, European bivalirudin (Angiox) sales increased 38 percent to $4 million, compared with $2.9 million for the third quarter 2009. The worldwide bivalirudin sales decreased 42 percent to $1.5 million, compared with $2.6 million for the third quarter 2009 on “account of ordering patterns by partners,” the company said.

“In the third quarter, we continued revenue and volume growth compared to 2009 in the U.S. and Europe,” said Clive Meanwell, MD, PhD, chairman and CEO of Medicines. “We continued to pursue tight cost control, resulting in strong earnings for the quarter."