Biotech Values

[pcrutch]

The Medicines Company is licensing the rights to a powerful type of cholesterol-lowering drug from Alnylam Pharmaceuticals, entering one of the hottest races in the industry.

The drug, known as ALN-PCS, inhibits a protein in the body known as PCSK9. Such drugs might one day be used to treat millions of people who do not achieve sufficient cholesterol-lowering from commonly used statins, such as Lipitor.

The Medicines Company will pay $25 million initially and as much as $180 million later if certain development and sales goals are met, under the deal expected to be formally announced Monday. It will also pay Alnylam, which is based in Cambridge, Mass., double-digit royalties on global sales.

[Seems like quite the fire sale on ALN-PCS]

http://www.nytimes.com/2013/02/04/business/medicines-co-licenses-rights-to-cholesterol-drug.html?partner=yahoofinance