The Medicines Company has reported positive financial results for the second quarter of 2008.
The Parsippany, N.J.-based pharmaceutical company said its net revenue increased 54 percent to $86.7 million for the second quarter of 2008, compared to $56.4 million for the second quarter of 2007. For the quarter, Medicines booked a net income of $4.1 million, compared to $800,000 in the year-ago quarter.
U.S. sales of Angiomax (bivalirudin) increased by 53 percent to $84.5 million for the second quarter of 2008 from $55.2 million for the second quarter of 2007, according to the company. Angiomax/Angiox international net revenue in the second quarter of 2008 increased $1 million to $2.2 million, compared to $1.2 million in the second quarter of 2007.
“We continue to execute our Angiomax strategy to gain market share and further penetrate the PCI market. We look forward to hearing from the FDA on our Cleviprex submission and continue to build our European infrastructure which will lead to multiple revenue sources in the near future,” said John Kelley, president and chief operating officer.
The FDA accepted Medicines’ new drug application filing for Cleviprex (clevidipine butyrate injectable emulsion) for the treatment of acute hypertension in September 2007.