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November 30, 2017
Cadwalader is representing The Medicines Company in its agreement to sell its infectious disease business unit to Melinta Therapeutics, Inc. for $270 million in upfront consideration and guaranteed payments (comprising $215 million of cash and $55 million of Melinta common stock), as well as rights to receive royalty payments on net sales of the pharmaceutical products sold to Melinta in the transaction. Concurrently with its execution of the purchase agreement with Melinta, The Medicines Company received a binding commitment from an affiliate of Deerfield Management Company, L.P., which has also committed to provide financing to Melinta in connection with the transaction, to provide a $100 million credit facility for working capital purposes and other general corporate purposes.
The Medicines Company is a biopharmaceutical company driven by an overriding purpose – to save lives, alleviate suffering and contribute to the economics of healthcare. The company’s mission is to create transformational solutions to address the most pressing healthcare needs facing patients, physicians and providers in serious infectious disease care and cardiovascular care. The company is headquartered in Parsippany, New Jersey, with a global innovation center in California.
The Cadwalader team is led by Corporate partners Gregory Patti and William Mills, and includes Corporate associates Tyler Carson, Lindsey Kister, Peter Bariso, Gianna Sagan, Winne Chen, Victoria Saunders and Timothy Ormsby, senior attorney Matthew Sadofsky and special counsels Braden McCurrach and Daniel Raglan; Tax partner Linda Swartz; and Finance partner Jeffrey Nagle and associate Michael Lynch.
