On Thursday, Shares of The Medicines Company (NASDAQ:MDCO), lost -3.31% to $34.81. The stock attained the volume of 1.71M million shares.
The Medicines Company (MDCO) and SymBio Pharmaceuticals Ltd. (4582:Tokyo), a Tokyo based specialty pharmaceutical company, recently declared the establishment of a planned partnership for IONSYS® (fentanyl iontophoretic transdermal system) in Japan.
The partnership comprises a contract granting SymBio an exclusive license in Japan to develop and commercialize IONSYS. IONSYS was approved by the U.S. Food and Drug Administration (FDA) on April 30, 2015, for the short-term administration of acute post-operative pain in adult patients requiring opioid analgesia in the hospital. On September 25, 2015, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issued a positive opinion recommending marketing authorization for IONSYS. A phase I study for IONSYS targeting healthy Japanese patients has been accomplished.
Financial terms of the agreement, in addition to net sales royalties payable to The Medicines Company, comprise a $10 million upfront payment and certain regulatory and commercial milestones.
The Medicines Company provides medicines for patients in acute and intensive care hospitals worldwide. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for use in patients undergoing percutaneous coronary intervention; Cleviprex, an intravenous small molecule calcium channel blocker for blood pressure reduction; Minocin IV, an antibiotic for the treatment of infections due to gram-negative bacteria; Orbactiv for the treatment of acute bacterial skin and skin structure infections; PreveLeak, a mechanical vascular and surgical sealant; ready-to-use formulation of Argatroban for the treatment of thrombosis; and Recothrom, a human recombinant thrombin used as an aid to hemostasis, in addition to acute care generic products for acute cardiovascular, surgery and perioperative care, and serious infectious diseases.
Shares of 3M Co (NYSE:MMM), surged 1.27% to $149.41, during its last trading session.
3M declared that Jim L. Bauman has been designated to the position of executive vice president, Electronics and Energy Business Group, effective right away. He replaces Michael A. Kelly who will retire.
Bauman is presently senior vice president, Business Transformation, Americas, and brings many years of demonstrated success as both a functional and business leader at 3M.
Bauman joined 3M as a division engineer in 1982 and subsequently held functional and business positions of increasing responsibility in both the Industrial, and Electronics and Energy Business Groups, before being designated senior vice president, Asia Pacific.
3M Company operates as a diversified technology company worldwide. Its Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems products; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products.
Finally, ACE Limited (NYSE:ACE), ended its last trade with 1.52% gain, and closed at $106.58.
ACE Group declared that the ACE Foundation International will donate €48,000 to the environmental charity LIPU for its work to protect and restore the natural habitat and biodiversity of the Venice lagoon. The donation was awarded during the 2015 FERMA (Federation of European Risk Administration Associations) Forum which is taking place in Venice, and reflects ACE’s commitment to assisting others manage environmental risk as well as contributing to environmental causes in the markets in which it operates.
With the grant from ACE, LIPU will be able to work in the Ca’ Roman Nature Reserve, in the Venice lagoon to assist protect the biodiversity and rare fauna and flora of the area from the effects of human activities. Among other things, LIPU will minimise the foot traffic in areas where indigenous flora species grow, protect the nesting sites of birds such as the rare Nightjar, and better monitor the park to reduce illegal activities such as vegetation harvesting, trespassing and hunting.
ACE Limited, through its auxiliaries, provides a range of property and casualty insurance and reinsurance products worldwide. The company’s Insurance North American P&C segment offers casualty insurance, environmental, inland marine, professional risk, disaster protection, vacant land and building, and claims and risk administration services; homeowners, automobile, valuables, umbrella liability, and recreational marine insurance; and wholesale excess and surplus lines property, casualty, environmental, professional liability, inland marine, and product recall coverage’s.
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