Medicines Co. Puts Up $474M For Specialty Drugmaker

Law360, New York (December 4, 2013, 12:00 PM EST) -- Global pharmaceutical company The Medicines Co. will pay up to $474 million to nab Rempex Pharmaceuticals Inc., a company that develops therapies to battle multidrug-resistant bacteria, according to a Wednesday statement.

New Jersey-based Medicines Co. paid Rempex equity holders $140 million upfront at the closing of the deal, which was unanimously approved by both companies' boards of directors, according to a statement. Under the terms of the transaction, Medicines Co. will also fork over milestone payments, including development and regulatory approval milestones totaling $214 million and...
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