February 22, 2012 / 4:58 PM / in 6 years

UPDATE 2-Medicines Co 4th-qtr profit tops estimates; shares up

* Q4 EPS $0.36 vs est $0.24

* Q4 rev $132.2 mln vs est $125 mln

* Sees 2012 rev growth of 9 to 11 pct

* Shares rise 10 pct

Feb 22 (Reuters) - Medicines Co posted a quarterly profit above market estimates for the eighth time in a row, helped by strong sales of its anti-clotting drug, Angiomax.

Shares of the company rose much as 10 percent to $22.82 -- their highest since October 2008 -- in morning trading on the Nasdaq.

Sales of Angiomax rose 11 percent to $124.2 million in the United States and nearly 3 percent to $7.9 million internationally.

Angiomax -- an anticoagulant which helps prevent clot formation during angioplasty -- competes against Eli Lilly and Johnson & Johnson’s ReoPro, Schering-Plough’s Integrilin, and MediCure and Iroko Pharmaceuticals’ Aggrastat.

New Jersey-based Medicines forecast revenue growth of 9 percent to 11 percent for 2012. The outlook implies revenue of $528.3 million to $538 million. Analysts expect $536.5 million, according to Thomson Reuters I/B/E/S.

Medicines Co said it sees about 22 percent to 23 percent of its 2012 revenue to be in the first quarter, and 46 percent to 48 percent in the first half of the year.

The company, which has a market value of about $1.13 billion, expects its 2012 research and development costs to be a fifth of its net revenue.

For the fourth quarter, the company earned 36 cents a share, on revenue of $132.2 million, compared with analysts estimates of 24 cents a share, on revenue of $125 million.

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