Melinta acquires novel antibiotics business from TMC
US drugmaker Melinta Therapeutics (Nasdaq: MLNT) and The Medicines Company (Nasdaq: MDCO) have entered into an agreement whereby Melinta will acquire the infectious disease business from The Medicines Company (TMC).
This includes three marketed products: recently approved and launched Vabomere (vaborbactam/meropenem), and established commercial products Orbactiv (oritavancin) and Minocin IV (minocycline).Peak sales potential of the portfolio post-closure exceeds $1 billion, according to Melinta.
The terms of the transaction include a $270 million in upfront consideration and guaranteed payments ($215 million of guaranteed cash and $55 million of Melinta common stock), tiered royalty payments of 5% to 25% on worldwide net sales of Vabomere, Orbactiv and Minocin IV, and the assumption by Melinta of all royalty, milestone and other payment obligations relating to those products
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