UPDATE 1-Medicines Co gets FDA nod for blood pressure drug
(Recasts, adds details, share movement)
BANGALORE, Aug 4 (Reuters) - Medicines Co (MDCO.O) said the U.S. Food and Drug Administration approved its injectable blood pressure drug, Cleviprex, sending its shares up as much as 6 percent to its highest level in more than a year.
The drug will be launched in September, company spokesman Robyn Brown said in an e-mail.
Last month, the company had forecast 2008 revenue of $335 million to $355 million, including an estimated $5 million to $10 million from Cleviprex sales.
The drug, which is given intravenously, is designed for the rapid and precise control of high blood pressure when oral therapy is not feasible or desirable, the company said.
Cleviprex is the first new intravenous treatment for acute hypertension to be approved in a decade, according to the Parsippany, New Jersey-based drugmaker.
Shares of the company were up 79 cents at $23.39 in morning trade on Nasdaq. They touched a high of $24 earlier in the session. (Reporting by Anand Basu in Bangalore; Editing by Himani Sarkar)
© Thomson Reuters 2009 All rights reserved
Green Shoots / Brown Weeds
Jobless claims drop steeply
The number of U.S. workers filing new claims for jobless benefits fell sharply last week, although the data was distorted by an unusual pattern of layoffs in the automotive industry. Full Article
Bad weather hurts retail sales
Sales fell at many U.S. apparel retailers and warehouse club stores in June as the weak economy and cool, rainy weather dashed interest in summer shopping for consumers across the country. Full Article
