April 25 (Bloomberg) -- AstraZeneca Plc and the Medicines Co. agreed to collaborate on drugs for acute ischemic heart disease, the companies said.
The Medicines Co.’s sales force will begin supporting London-based AstraZeneca’s Brilinta in the U.S. next month, the companies said today in a statement. AstraZeneca will pay Parsippany, New Jersey-based Medicines Co. $15 million a year during the four-year deal with as much as $5 million a year more if performance thresholds are met, the companies said.
AstraZeneca, the U.K.’s second-biggest drugmaker, acquired Ardea Biosciences for $1.26 billion on April 23, its biggest acquisition in five years. AstraZeneca’s head of business development, Shaun Grady, said then that the pharmaceuticals maker was in talks with several companies about licensing deals and acquisitions. The company is interested in late-stage assets outside its traditional focus on cancer, diabetes, and gastrointestinal ailments, Grady said.
Medicines Co. rose 7.2 percent to $21.52 at 4:04 p.m. in New York, the most since October 3. The company gained 32 percent in the past 12 months.
AstraZeneca and the Medicine Co. also agreed to create development plans Brilinta and Angiomax, the Medicine Co.’s anticoagulant, for injection and Medicine Co.’s experimental drug cangrelor.