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By Michael Dabaie
Medicines Co. (MDCO) shares rose 19% to $69.83 Tuesday morning in heavier-than-average volume.
Bloomberg reported earlier that Medicines Co. has attracted takeover interest from suitors, including from Novartis AG (NVS), citing people familiar with the matter.
Novartis has been holding talks about a potential acquisition of the company, according to the people, Bloomberg reported. Novartis is conducting due diligence on the company, one of the people said, according to the Bloomberg report.
Officials from Medicines Co. and Novartis declined to comment.
Medicines Co. said Monday that the ORION-9 study of inclisiran in heterozygous familial hypercholesterolemia patients showed durable low-density lipoprotein cholesterol lowering with twice-yearly dosing.
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(END) Dow Jones Newswires
November 19, 2019 11:01 ET (16:01 GMT)
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