The Medicines Co. on track to end year with revenue of $205 million to $212 million

By Lisa Kerner

Charlotte, N.C., Oct. 25 - The Medicines Co. expects to finish 2006 near the high end of its revenue guidance of $205 million to $212 million and with earnings of between $14 million and $16 million, according to a company news release.

For the third quarter, the company said net revenues increased to $59.6 million from $31.9 million for the third quarter of 2005.

Net income for the period was up at $10.7 million, from a net loss of $6.2 million for the prior-year period.

For the first nine months of 2006, net revenues rose to $153.6 million from $118.1 million for the same period of 2005.

Net income for the nine-month period was up at $9.5 million, from a net loss of $2.6 million for the year-ago period.

"We completed the phase 3 safety trials of clevidipine, our novel blood pressure control agent," president and chief operating officer John Kelley said in the release.

"We started both phase 3 trials of cangrelor, our novel antiplatelet therapy. Angiomax revenue continued to grow. These are major steps forward in our plan to build a leading acute care hospital franchise."

The Medicines Co. develops products used in acute hospital care and is based in Parsippany, N.J.

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