Bull of the Day: The Medicines Co. (MDCO)

The Medicines Co. (MDCO) reported second-quarter EPS of $0.29, well above the Zacks Consensus Estimate and the year-ago EPS. Performance was boosted by higher revenues and lower operating expenses. Revenues increased 5.7%.

The company received a major boost in August regarding its Angiomax patent extension case. The US Patent and Trademark Office has extended the principal patent on Angiomax by a year to August 2011, and has been instructed to treat the patent extension application as having been filed on a timely basis.

We are also pleased to see that management is actively pursuing in-licensing deals and acquisitions to drive growth. Based on the improved outlook, we are upgrading the stock to Outperform.

MEDICINES CO (MDCO): Free Stock Analysis Report

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