The Medicines Company announced that it has completed the divestiture of its hemostasis portfolio to Mallinckrodt plc. The company’s global portfolio includes three hemostasis products – Recothrom Thrombin topical (Recombinant), PreveLeak (surgical sealant), and Raplixa (fibrin sealant). The Medicines Company received an initial payment of approximately $174 million and has the potential to receive up to $235 million in additional consideration for future milestone payments.

Commenting on completion of the transaction, Clive Meanwell, MD, PhD, chief executive officer, The Medicines Company, said “Closing this deal is a first step in executing the strategy we announced during our third quarter 2015 investor call which aims to unlock shareholder value while ensuring our potentially best in class products are available to fulfill the needs of customers. We will deploy the capital from this deal against our other products, including those in our R&D pipeline, which we believe have blockbuster potential. We are pleased to have these excellent hemostasis products in the hands of a company like Mallinckrodt who has considerable experience and commercial strength.”

The Medicines Company's purpose is to save lives, alleviate suffering and contribute to the economics of healthcare by focusing on 3000 leading acute/intensive care hospitals worldwide. Its vision is to be a leading provider of solutions in three areas: serious infectious disease care, acute cardiovascular care and surgery and perioperative care.