Pharma Stock Updates: The Medicines Company (NASDAQ:MDCO), Eli Lilly and Co (NYSE:LLY), Genetic Technologies Limited (ADR)(NASDAQ:GENE)

The Medicines Company (NASDAQ:MDCO), a pharmaceutical company, said Monday the European Medicines Agency, the Committee for Medicinal Products for Human Use, and the European Commission have granted market authorization renewal for Angiox.The CHMP recommendation for the renewal of the marketing authorization for Angiox reconfirms its favorable risk-benefit profile.

The renewal was given following a review of the latest clinical, safety, and efficacy data, as well as the Angiox risk management plan.Angiox is indicated in Europe as an anticoagulant in adult patients undergoing percutaneous coronary intervention, including patients with ST-segment elevation myocardial infarction undergoing primary percutaneous coronary intervention. Shares were down 0.9% at $29.34 recently, in a 52-week range of $23.53 to $41.28.

Eli Lilly and Co (NYSE:LLY) and Yabao Pharmaceuticals forged a strategic partnership to co-develop Lilly’s leading glucokinase activator (GKA), LY2608204, which is designed to treat diabetes, Yabao Pharmaceuticals announced Monday morning. Financial terms of the partnership were not disclosed. Under the terms of the agreement, Yabao Pharmaceuticals will own the rights to develop and market the GKA compound in China, while Lilly will retain rights in all other countries.

The two companies will collaborate to form a strategic development plan for China, and Yabao will initially be in charge of funding all development, while Lilly will have future buy-in options for China. In early trade, LLY shares were up 0.2% to $63.18. The stock trades just shy of the 52-week high of $63.38.

Genetic Technologies Limited (ADR)(NASDAQ:GENE) shares were up 19% at $1.22 in the first hour of trade Monday, hitting a session high at $1.31, after the genetic testing company said the number of BREVAGen test samples received during the quarter ended June 30, 2014 returned to levels achieved in late 2013. Total patient samples received during the quarter were 1,096, a 37% growth over the March 2014 quarter. GENE trades in a 52-week range of $0.97 to $3.00.