December 12, 2012 / 12:50 PM / in 5 years

Medicines Co licenses Bristol-Myers' bleeding control device for $105 mln

Dec 12 (Reuters) - The Medicines Company said it will pay $105 million in an upfront payment for a two-year license to market Bristol-Myers Squibb Company’s device to control bleeding during surgery.

The deal also gives Medicines Co the option to acquire the device, Recothrom, for a price based on average net sales during the two-year collaboration term.

The deal is expected to add to Medicines Co earnings per share in 2013, and add minimally to Bristol’s earnings per share in 2013 and 2014, both companies said in a joint statement.

Medicines Co said in a separate statement that said it agreed to pay $185 million to acquire Redwood City, California-based Incline Therapeutics, which is developing a device to manage post-operative pain.

Medicines Co’s shares closed at $21.85 on Tuesday on the Nasdaq.

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