Pictet Funds Raises Stake in Medicines Co. (MDCO) After Shares Plunge
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In a 13G filing on Medicines Co. (Nasdaq: MDCO), Pictet Funds disclosed a 6.05% stake, or 3,191,833 shares, in the company as of May 13th, 2009. The group held about 2 million shares at 1/31/09, according to a foreign regulatory filing.
The raised stake comes after shares of MDCO sank 37% on 5/13 after the company discontinued its Phase 3 CHAMPION clinical trial program of cangrelor in patients undergoing percutaneous coronary intervention after the trial was ineffective.
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