Leerink Affirms Medicines Company (MDCO) at 'Outperform'; Carbapenem Component Verified w/ Today's Results

Leerink affirms The Medicines Company (Nasdaq: MDCO) with an Outperform rating and $53 price target after the company announced that its investigational antibiotic, CARBAVANCE (meropenem-vaborbactam), met both FDA and EMA pre-specified primary endpoints in the Phase 3 TANGO 1 clinical trial in patients with cUTI.

Analyst Joseph Schwartz commented, Today's positive Phase 3 TANGO-1 trial results of Carbavance (meropenem+vaborbactam) for treatment of complicated urinary tract infections (cUTI), in our view, validate the efficacy of the widely used carbapenem component of this treatment and reaffirm our belief that Carbavance may prove to be an effective treatment for deadly Carbapenem-resistant Enterobacteriaceae (CRE) infections.

Looking forward, Schwartz said, This study aims to replicate the remarkable results shown by Dr. Steven Nissen over a decade ago to enable a large Phase 3 trial for ApoA-1 Milano in acute coronary syndrome (ACS). The robust and rapid plaque regression with only 5 weeks of treatment shown previously is the target which mgmt. has indicated they expect to see from upcoming results. The n=40 patients needed for the initial interim analysis have reportedly been recruited, and as highlighted in our deep dive report, we believe there is a high likelihood that the first interim analysis is successful.

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