Medicines Co. Shares Up 19% After Bloomberg Report

Date : 11/19/2019 @ 4:16PM
Source : Dow Jones News
Stock : Medicines Company (MDCO)
Quote : 84.22  0.19 (0.23%) @ 4:59AM

Medicines Co. Shares Up 19% After Bloomberg Report

Medicines (NASDAQ:MDCO)
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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.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

November 19, 2019 11:01 ET (16:01 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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