An investigation on behalf of investors in The Medicines Company (NASDAQ:MDCO) shares over potential wrongdoing was announced and NASDAQ:MDCO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/13/2015 -- An investigation on behalf of investors in shares of The Medicines Company (NASDAQ:MDCO) shares was announced over potential breaches of fiduciary duties by certain officers and directors at The Medicines Company.
Investors who purchased shares of The Medicines Company (NASDAQ:MDCO) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Medicines Company officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
In February 2014 a lawsuit was filed against the Medicines Company (NASDAQ:MDCO) over alleged Securities Laws Violations. Tthe plaintiff claimed that the defendants made allegedly false and/or misleading statements and/or failed to disclose that Cangrelor, The Medicines Company drug candidate designed to prevent blood clots during heart artery-clearing angioplasty and stenting procedures, did not show superiority to clopidogrel, a competing drug already approved by the U.S. Food and Drug Administration ("FDA"), that The Medicines Company'a CHAMPION clinical trials which compared the efficacy of Cangrelor to clopidogrel were unethically and inappropriately administered including by delaying administration of clopidogrel and lowering its dosage, and that as a result of the foregoing, The Medicines Company's public statements were materially false and misleading at all relevant times.
The Medicines Company reported that its annual Total Revenue rose from $484.73 million in 2011 to $724.41 million in 2014 while its Net Income of $127.88 million in 2011 declined to a Net Loss of $32.21 million in 2014. NASDAQ:MDCO
On April 9, 2015, The Medicines Company announced that it expects net revenue in the range of $125 million to $130 million for the first quarter of 2015, which reflects a 29% to 26% decrease from the first quarter of 2014 due to lowering sales of Angiomax. The Medicines Company said that it expects net revenue from sales of Angiomax to be in the range of $97 million to $105 million compared to $155.7 million in the first quarter of 2014. The Chairman and CEO of The Medicines Company, Clive Meanwell, remarked that the declining sales of Angiomax "reflects our customers' current uncertainty regarding the product's patent exclusivity in the United States past June 2015" and that "[w]e appreciate our customers' concerns about managing their pharmaceutical inventories."
Shares of the Medicines Company (NASDAQ:MDCO) closed on April 9, 2015 at $27.82 per share.
Those who purchased shares of The Medicines Company (NASDAQ:MDCO), have certain options and should contact the Shareholders Foundation.
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