Medicines Expects Weak Angiomax Sales To Hurt Q1 Revenue; Stock Down 9%

(RTTNews) - The Medicines Co (MDCO), a provider of medicines for patients in acute and intensive care hospitals, on Thursday provided weak revenue guidance for the first quarter, citing lower sales of Angiomax as customers were uncertain about the product's patent exclusivity in the U.S. past June 2015.

The company now expects first-quarter revenue of $125 million to $130 million. Analysts polled by Thomson Reuters expect revenue of $184.2 million.

In the same quarter a year ago, the company reported revenue of $177.2 million.

The company expects Angiomax (bivalirudin)/Angiox (bivalirudin) revenue of $97 million to $105 million compared with $155.7 million last year. Angiomax is a specific and reversible direct thrombin inhibitor indicated for use as an anticoagulant in certain patients.

The company expects to release its final results for the first quarter on May 5.

Shares of the company are losing $2.41 or 8.66% at $25.41 in after-hours trade on the Nasdaq.