| Company: | The Medicines Company |
| Ticker Symbol: | MDCO |
| Class Period: | Feb-20-13 to Feb-12-14 |
| Date Filed: | Mar-3-14 |
| Lead Plaintiff Deadline: | May-2-14 |
| Court: | District of New Jersey |
| Allegations: | |
Medicines Is Accused of Misrepresenting the Drug Cangrelor. According to the complaint, shares of Medicines fell on multiple occasions beginning with an initial decline $1.80 or over 5%, in which Medicines closed at $32.42 on February 10, 2014, after the release of briefing documents from the U.S. Food and Drug Administration's Cardiovascular and Renal Drugs Advisory Committee in advance of the FDA's review of Medicines' drug application for Cangrelor, a drug intended to prevent blood clots during heart-artery clearing angioplasty and stenting procedures. The documents concluded that Cangrelor did not show superiority to Clopidogrel, a competing drug already approved by the FDA. Moreover, the initial FDA finding disclosed that the clinical trials sponsored by Medicines were unethically and inappropriately controlled because the administration of Clopidogrel was delayed and the dosage of Clopidogrel lowered in the CHAMPION trial which was designed to compare the efficacy of Cangrelor to Clopidogrel. Shares of Medicines further declined $3.82, or over 11.5%, to close at $29.28 on February 13, 2014, after the FDA advisory panel voted 7-2 against the approval of Cangrelor.
The complaint further alleges that Medicines made materially false and misleading statements regarding the company's business, operational, compliance policies and improperly touted Cangrelor despite the fact that the drug did not show superiority to Clopidogrel and that the company's CHAMPION clinical trials were unethically and inappropriately administrated.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
