SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP today announced that it is investigating whether the board of directors of The Medicines Company (NASDAQ:MDCO) breached its fiduciary duties to shareholders related to its management, communication and planning regarding cangrelor in light of an FDA published report.
On February 10, 2014 an investigator for the FDA wrote about cangrelor, a drug being developed by The Medicines Company. In the report, the investigator indicated that cangrelor should not be approved for patients who are undergoing an angioplasty, a procedure that is used to open narrowed or blocked coronary arteries. Additionally, the FDA investigator reported that the drug does not appear to work better than an older drug currently on the market. Finally, the report was concerned about the methods that were used in the study criticizing those methods as being unethical. The FDA reviewer noted that cangrelor should not be approved on that fact alone.
Since this news was announced, The Medicines Company’s shares have fallen more than 15% as of February 13, 2014 in mid-day trading. Our investigation concerns whether the Company’s board of directors has breached its fiduciary duties to shareholders in connection with the foregoing.
If you are a shareholder of The Medicines Company and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at (619) 230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
