The Medicines Company Reports Fourth-Quarter and Full-Year 2015 Business and Financial Results

17 Feb 2016

The Medicines Company (NASDAQ:MDCO) today announced its business and financial results for the fourth quarter and full year ended December 31, 2015.

During and since the fourth quarter of 2015, the Company has:

  • ALN-PCSsc: Announced positive results from the Phase 1 study of ALN-PCSsc at the American Heart Association 2015 Scientific Sessions demonstrating the drug’s durable effects on PCSK9 knockdown and LDL-cholesterol reduction. Launched patient enrollment in the Orion-1 Phase 2 clinical trial of ALN-PCSsc in patients with atherosclerotic cardiovascular disease;
  • MDCO-216: Announced the publication of positive Phase 1 results for MDCO-216 and the enrollment of patients in the MILANO-PILOT study evaluating the drug’s effects on atherosclerotic plaque burden;
  • ABP-700: Presented the first clinical results addressing the safety and tolerability of ABP-700 at the ANESTHESIOLOGY 2015 and International Society of Anesthetic Pharmacologists annual meetings;
  • CARBAVANCE: Advanced Phase 3 clinical trials towards our goal of completion in 2016 and NDA filing shortly after;
  • Angiomax®: Received an order from the U.S. Court of Appeals for the Federal Circuit that granted the Company’s request for rehearing of its appeal in its ANDA litigation with Hospira and overturned the Court’s earlier decision that invalidated the Company’s two Orange Book patents for Angiomax®.
  • Revenues for our launch products (Kengreal, Cleviprex, Orbactiv, Minocin IV and Ionsys) increased 294% to $10.7 million in the fourth quarter of 2015 over the same period in 2014;
  • Sold the Company’s hemostasis products (RECOTHROM®, PreveLeak™ and RAPLIXA™) to Mallinckrodt for an initial payment of $174 million plus $235 million in potential future milestone payments. The Company has accounted for this divestment as discontinued operations.

Clive Meanwell, MD, PhD, Chief Executive Officer, The Medicines Company, stated: “We had a transformational year in 2015 during which five products were approved in the United States and Europe, four potential blockbuster products have emerged from our pipeline, our lead product became an authorized generic and we launched a new corporate strategy to unlock shareholder value, generate non-dilutive capital and focus on our most promising development programs. In the year ahead, we look forward to reporting data from ongoing studies of our four leading product candidates - ALN-PCSsc, MDCO-216, ABP-700 and CARBAVANCE – and to continuing our efforts to divest non-core assets as we focus on our late-stage clinical programs.”

Fourth-Quarter 2015 Financial Summary from Continuing Operations

Worldwide net revenue was $67.2 million for the fourth quarter of 2015 compared to $173.1 million in the fourth quarter of 2014. Worldwide Angiomax®/Angiox® (bivalirudin) net product sales were $23.2 million in the fourth quarter of 2015 compared to $165.9 million in the fourth quarter of 2014, with net product sales in the United States decreasing to $18.7 million in the fourth quarter of 2015 from $157.5 million in the fourth quarter of 2014 driven by the loss of Angiomax exclusivity. Included in total net revenue for the fourth quarter of 2015 is $29.4 million of royalty revenues derived from the gross profit of authorized generic sales of Angiomax (bivalirudin) by Sandoz, Inc. Other products including Cleviprex, Argatroban for Injection, 50 mg per ml, Minocin for injection, Orbactiv, and Kengreal recorded sales of $14.6 million during the fourth quarter of 2015 compared to $7.1 million in the fourth quarter of 2014.

The net loss from continuing operations for the fourth quarter of 2015 was $68.2 million, or ($0.99) per share, compared to net income from continuing operations of $5.7 million, or $0.09 per share, for the fourth quarter of 2014. Adjusted net loss(1) from continuing operations for the fourth quarter of 2015 was $60.8 million, or ($0.88)(1) per share, compared to adjusted net income(1) from continuing operations of $11.6 million, or $0.18(1) per share, for the fourth quarter of 2014.

Fourth-Quarter 2015 Financial Summary from Discontinued Operations

In the fourth quarter of 2015, the Company sold its hemostasis products. The Company accounted for this divestment as discontinued operations and recorded an impairment charge of $133.3 million. The net loss for the fourth quarter of 2015 from discontinued operations was $137.8 million, or ($2.00) per share, compared to net loss from discontinued operations for the fourth quarter of 2014 of $11.1 million, or ($0.17) per share.

Full-Year 2015 Financial Summary from Continuing Operations

Worldwide net revenue was $309.0 million for the full year 2015 compared to $659.7 million for the full year 2014. Worldwide Angiomax/Angiox net product sales were $212.0 million for the full year 2015 compared to $635.7 million for the full year 2014, with net product sales in the United States decreasing to $193.2 million for the full year 2015 from $599.5 million for the full year 2014. Included in total net revenue for 2015 is $53.9 million of royalty revenues derived from the gross profit of authorized generic sales of Angiomax (bivalirudin) by Sandoz, Inc. Other products including Cleviprex, ready-to-use Argatroban, Minocin IV for injection, Orbactiv, and Kengreal recorded sales of $43.2 million for the full year 2015, compared to $24.0 million for 2014.

The net loss from continuing operations for the full year 2015 was $221.9 million, or ($3.32) per share, compared with net income from continuing operations of $0.2 million for the full year 2014. Adjusted net loss(1) from continuing operations for the full year 2015 was $161.6 million, or ($2.42) (1) per share, compared to adjusted net income(1) from continuing operations of $72.6 million, or $1.10(1) per share for the full year 2014.

The following significant items are included in the Company’s financial statements for 2015. Included in other income for 2015 is a $22.7 million re-measurement gain on an equity investment, a $19.8 million gain on the sale of an investment, $8.2 million of license income related to our collaboration agreement with SciClone Pharmaceuticals and a gain of $5.0 million from a legal settlement.

Full Year 2015 Financial Summary from Discontinued Operations

In the fourth quarter of 2015, the Company sold its hemostasis products. The Company accounted for this divestment as discontinued operations and recorded an impairment charge of $133.3 million. The net loss for discontinued operations for 2015 was $130.8 million, or ($1.96) per share, compared to net loss from discontinued operations for 2014 of $32.5 million, or ($0.50) per share.

(1) Adjusted net income from continuing operations and adjusted earnings per share from continuing operations are non-GAAP financial performance measures with no standardized definitions under US GAAP. For further information and a detailed reconciliation, refer to the Non-GAAP Financial Performance Measures and Reconciliation of GAAP to Adjusted Net Income and Adjusted Earnings Per Share sections of this release for explanations of the amounts excluded and included to arrive at adjusted net income and adjusted earnings per share amounts.

As of December 31, 2015, the Company had $373 million in cash and investments compared to $371 million at the end of 2014.

Conference Call Information

There will be a conference call with management today at 8:30 a.m. Eastern Time to discuss these financial results and operational developments and outlook for 2016.

The conference call will be available via phone and webcast. The dial-in information is listed below:

Domestic dial-in: 877-359-9508

International dial-in: 224-357-2393

Passcode for both dial-in numbers: 41690207

Replay is available from 11:30 a.m. Eastern Time following the conference call through February 24th, 2016. To hear a replay of the call, dial 855-859-2056 (domestic) or 404-537-3406 (international). The passcode for both dial in numbers is 41690207.

This call is being webcast and can be accessed via The Medicines Company website at www.themedicinescompany.com

About The Medicines Company

The Medicines Company's purpose is to save lives, alleviate suffering and contribute to the economics of healthcare by focusing on 3,000 leading acute/intensive care hospitals worldwide. Its vision is to be a leading provider of solutions in three areas: acute cardiovascular care, surgery and perioperative care, and serious infectious disease care. The company operates in the Americas, Europe and the Middle East, and Asia Pacific regions with global centers today in Parsippany, NJ, USA and Zurich, Switzerland.

NON-GAAP FINANCIAL PERFORMANCE MEASURES

In addition to financial information prepared in accordance with U.S. GAAP, this press release also contains adjusted net income from continuing operations and adjusted earnings per share from continuing operations measures that we believe provide investors and management with supplemental information relating to operating performance and trends that facilitate comparisons between periods and with respect to projected information.

Adjusted net income from continuing operations excludes upfront collaboration payments, amortization of acquired intangible assets and other charges, deal related charges, restructuring charges, stock-based compensation expense, changes in contingent consideration, legal settlement, milestone payments, non-cash interest, impairment charges, inventory adjustments, gain on settlement, gain on sale of investment, gain on re-measurement of equity investment, and net income tax adjustments. See the attached Reconciliations of GAAP to Adjusted Net Income and Adjusted Earnings Per Share for explanations of the amounts excluded and included to arrive at adjusted net income and adjusted earnings per share amounts for the three month periods and year ended December 31, 2015 and December 31, 2014.

These adjusted measures are non-GAAP and should be considered in addition to, but not as a substitute for, the information prepared in accordance with U.S. GAAP. We typically exclude certain GAAP items that management does not believe affect our basic operations and that do not meet the GAAP definition of unusual or non-recurring items. Other companies may define these measures in different ways.

Forward Looking Statements

Statements contained in this press release about The Medicines Company that are not purely historical, and all other statements that are not purely historical, may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words "believes," "anticipates" and "expects" and similar expressions, including the Company's preliminary financial results, are intended to identify forward-looking statements. These forward-looking statements involve important known and unknown risks and uncertainties that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Important factors that may cause or contribute to such differences include the extent of the commercial success of our products, the Company's ability to develop its global operations and penetrate foreign markets, whether the Company is able to raise additional capital on favorable terms or at all, whether the Company's product candidates will advance in the clinical trials process on a timely basis or at all, whether the Company will make regulatory submissions for product candidates on a timely basis, whether its regulatory submissions will receive approvals from regulatory agencies on a timely basis or at all, whether the Company’s ongoing and planned commercial launches will be successful; whether physicians, patients and other key decision makers will accept clinical trial results, whether the Company can protect its intellectual property, and such other factors as are set forth in the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission including, without limitation, the risk factors detailed in the Company's Quarterly Report on Form 10-Q filed on November 9, 2015, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements.

 
THE MEDICINES COMPANY
      <p class="bwcellpmargin">
        <b>CONSOLIDATED STATEMENTS OF OPERATIONS</b>
      </p>
      <p class="bwcellpmargin">
        <b>UNAUDITED</b>
      </p>
      <p class="bwcellpmargin">
        <i>(In thousands, except per share amounts)</i>
      </p>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="7">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td class="bwpadl0 bwvertalignm bwalignc bwsinglebottom" colspan="7">
      <p class="bwcellpmargin">
        <b>Three Months Ended</b><br><b>December 31,</b>
      </p>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2015</b>
    </td>
    <td>
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2014</b>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Net product revenues
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      37,811
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      173,052
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Royalty revenues
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      29,356
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      —
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Total net revenues
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      67,167
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      173,052
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Operating expenses:
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Cost of product revenue
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      25,449
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      51,921
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Research and development
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      40,186
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      48,759
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Selling, general and administrative
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      76,959
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      98,233
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwpadb1 bwvertalignm bwalignl">
      Total operating expenses
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      142,594
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      198,913
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Loss from operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (75,427
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (25,861
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Legal settlement
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      25,736
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Co-promotion and license income
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      121
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      8,026
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Loss in equity investment
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (527
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Interest expense
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (9,590
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (3,700
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Other (loss) income
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (204
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      123
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      (Loss) income from continuing operations before income taxes
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (85,100
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      3,797
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Benefit from income taxes
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      16,853
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      1,925
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Net (loss) income from continuing operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (68,247
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      5,722
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Loss from discontinued operations, net of tax
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (137,825
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (11,104
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Net loss
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (206,072
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (5,382
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Net loss attributable to non-controlling interest
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      6
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      59
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb3 bwvertalignm bwalignl">
      Net loss attributable to The Medicines Company
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (206,066
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (5,323
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl" colspan="8">
      Basic (loss) earnings per common share attributable to The Medicines 
      Company:
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      (Loss) earnings from continuing operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (0.99
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      0.09
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Loss from discontinued operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (2.00
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (0.17
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwpadb3 bwvertalignm bwalignl">
      Basic loss per share
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (2.99
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (0.08
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl" colspan="8">
      Diluted (loss) earnings per common share attributable to The 
      Medicines Company:
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      (Loss) earnings from continuing operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (0.99
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      0.09
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Loss from discontinued operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (2.00
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (0.17
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwpadb3 bwvertalignm bwalignl">
      Diluted loss per share
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (2.99
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (0.08
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Weighted average number of common shares outstanding:
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Basic
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      68,976
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      64,800
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Diluted
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      68,976
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,347
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
      &nbsp;
    </td>
  </tr>
</tbody></table>
<table cellspacing="0" class="bwtablemarginb">
  <tbody><tr>
    <td colspan="8">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignc" colspan="8">
      <b>THE MEDICINES COMPANY</b>

      <p class="bwcellpmargin">
        <b>CONSOLIDATED STATEMENTS OF OPERATIONS</b>
      </p>
      <p class="bwcellpmargin">
        <i>(In thousands, except per share amounts)</i>
      </p>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="7">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td class="bwpadl0 bwvertalignm bwalignc bwsinglebottom" colspan="7">
      <b>Year Ended December 31,</b>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2015</b>
    </td>
    <td>
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2014</b>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Net product revenues
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      255,148
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      659,690
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Royalty revenues
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      53,859
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      —
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Total net revenues
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      309,007
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      659,690
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Operating expenses:
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Cost of product revenue
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      119,931
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      233,330
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Research and development
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      123,606
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      139,512
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Selling, general and administrative
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      337,943
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      314,954
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwpadb1 bwvertalignm bwalignl">
      Total operating expenses
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      581,480
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      687,796
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Loss from operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (272,473
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (28,106
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Legal settlement
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      5,000
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      25,736
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Co-promotion and license income
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      10,132
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      24,236
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Gain on remeasurement of equity investment
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      22,741
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Gain on sale of investment
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      19,773
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Loss in equity investment
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (144
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (1,711
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Interest expense
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (37,092
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (15,701
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Investment impairment
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (7,500
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Other income
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      400
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      918
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Loss from continuing operations before income taxes
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (251,663
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (2,128
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Benefit from income taxes
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      29,743
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      2,309
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Net (loss) income from continuing operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (221,920
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      181
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Loss from discontinued operations, net of tax
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (130,826
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (32,529
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Net loss
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (352,746
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (32,348
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Net (income) loss attributable to non-controlling interest
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (10
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      138
    </td>
    <td class="bwsinglebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb3 bwvertalignm bwalignl">
      Net loss attributable to The Medicines Company
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (352,756
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (32,210
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl" colspan="8">
      Basic (loss) earnings per common share attributable to The Medicines 
      Company:
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      (Loss) earnings from continuing operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (3.32
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      —
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Loss from discontinued operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (1.96
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (0.50
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwpadb3 bwvertalignm bwalignl">
      Basic loss per share
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (5.28
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (0.50
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl" colspan="8">
      Diluted (loss) earnings per common share attributable to The 
      Medicines Company:
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      (Loss) earnings from continuing operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (3.32
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      —
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwpadb1 bwvertalignm bwalignl">
      Loss from discontinued operations
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (1.96
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (0.50
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwpadb3 bwvertalignm bwalignl">
      Diluted loss per share
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (5.28
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (0.50
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Weighted average number of common shares outstanding:
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Basic
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,809
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      64,473
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Diluted
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,809
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,668
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
      &nbsp;
    </td>
  </tr>
</tbody></table>
<table cellspacing="0" class="bwtablemarginb">
  <tbody><tr>
    <td colspan="7">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignb bwalignc" colspan="7">
      <b>THE MEDICINES COMPANY</b>

      <p class="bwcellpmargin">
        <b>BALANCE SHEET ITEMS</b>
      </p>
      <p class="bwcellpmargin">
        <i>(In thousands)</i>
      </p>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td class="bwpadl0 bwvertalignb bwalignc bwsinglebottom" colspan="6">
      <b>December 31,</b>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2015</b>
    </td>
    <td>
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="2">
      <b>2014</b>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignb bwalignl">
      Cash and cash equivalents
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      373,173
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      370,741
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignb bwalignl">
      Total assets
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      1,806,951
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      1,885,705
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignb bwalignl">
      Convertible senior notes (due 2017 and due 2022*)
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      579,015
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      246,676
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignb bwalignl">
      The Medicines Company stockholders' equity
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      732,123
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      920,565
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
      &nbsp;
    </td>
  </tr>
</tbody></table>
<p>
  *Convertible senior notes due 2022 issued on January 13, 2015
</p>
<table cellspacing="0" class="bwtablemarginb">
  <tbody><tr>
    <td colspan="19">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignc" colspan="19">
      <b>THE MEDICINES COMPANY</b>

      <p class="bwcellpmargin">
        <b>RECONCILIATION OF GAAP TO ADJUSTED NET INCOME </b><br><b>AND 
        ADJUSTED EARNINGS PER SHARE</b>
      </p>
      <p class="bwcellpmargin">
        <b>UNAUDITED</b>
      </p>
      <p class="bwcellpmargin">
        <i>(In thousands, except per share amounts)</i>
      </p>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td>
      &nbsp;
    </td>
    <td>
    </td>
    <td>
      &nbsp;
    </td>
    <td colspan="7">
    </td>
    <td>
      &nbsp;
    </td>
    <td colspan="7">
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwvertalignm bwalignc bwsinglebottom" colspan="7">
      <p class="bwcellpmargin">
        <b>Three months ended</b><br><b>December 31,</b>
      </p>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwvertalignm bwalignc bwsinglebottom" colspan="7">
      <b>Year ended</b>

      <p class="bwcellpmargin">
        <b>December 31,</b>
      </p>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      <p class="bwcellpmargin">
        &nbsp;
      </p>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2015</b>
    </td>
    <td>
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2014</b>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2015</b>
    </td>
    <td>
      &nbsp;
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignc bwsinglebottom" colspan="3">
      <b>2014</b>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      <p class="bwcellpmargin">
        Net (loss) income from continuing<br>operations attributable to 
        The<br>Medicines Company –GAAP
      </p>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (68,241
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      5,781
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (221,930
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      319
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      Before tax adjustments:
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Cost of revenue:
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwvertalignm bwalignl" colspan="3">
      <p class="bwcellpmargin">
        &nbsp;
      </p>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Share-based compensation expense
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(1)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      398
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      103
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      987
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      454
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Inventory adjustments
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(2)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      32,400
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Amortization of acquired intangible assets
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(3)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      6,267
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      8,391
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      17,281
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      26,560
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Research and development:
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Share-based compensation expense
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(1)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      697
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      666
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      3,513
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      4,462
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Milestone payments
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(4)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      1,007
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      10,000
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      6,359
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      18,429
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Selling, general and administrative:
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Share-based compensation expense
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(1)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      5,380
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      7,304
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      25,677
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      26,248
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Restructuring charges
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(5)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      7,159
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      7,159
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Amortization of acquired intangible assets
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(3)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      1,414
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      164
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      5,657
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Change in contingent purchase price
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(6)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      4,704
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      5,370
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      27,812
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      29,029
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Expenses incurred for certain transactions
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(7)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      566
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl4 bwvertalignm bwalignl">
      Milestone payment
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(4)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      2,500
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl1 bwvertalignm bwalignl">
      Other:
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Non-cash interest expense
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(8)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      6,144
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      3,046
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      23,676
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      11,920
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Investment impairment
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(9)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      7,500
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Gain on sale of investment
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(10)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (19,773
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Gain on remeasurement of equity investment
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(11)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      527
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (22,597
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      1,711
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl5 bwvertalignm bwalignl">
      Settlement
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(12)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      —
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (25,736
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (5,000
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      (25,736
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb1 bwvertalignm bwalignl">
      Net income tax adjustments
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwpadb1 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(13)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (17,145
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (12,384
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (30,182
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwsinglebottom" colspan="2">
      (44,162
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwsinglebottom">
      )
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwpadb3 bwvertalignm bwalignl">
      <p class="bwcellpmargin">
        Net (loss) income attributable to The<br>Medicines Company - 
        Adjusted
      </p>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (60,789
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      11,641
    </td>
    <td class="bwdoublebottom">
      &nbsp;
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      (161,613
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl bwdoublebottom">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr bwdoublebottom">
      72,616
    </td>
    <td class="bwdoublebottom">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
      &nbsp;
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      <p class="bwcellpmargin">
        Net (loss) income per share<br>attributable to The Medicines<br>Company 
        - Adjusted
      </p>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Basic
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (0.88
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      0.18
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (2.42
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      1.13
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Diluted
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(14)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (0.88
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      0.18
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      (2.42
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignl">
      )
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      $
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      1.10
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl0 bwvertalignm bwalignl">
      <p class="bwcellpmargin">
        Weighted average number of common<br>shares outstanding:
      </p>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
    <td>
    </td>
    <td colspan="3">
    </td>
  </tr>
  <tr>
    <td class="bwpadl3 bwvertalignm bwalignl">
      Basic
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      68,976
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      64,800
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,809
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      64,473
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td class="bwpadl2 bwvertalignm bwalignl">
      Diluted – Adjusted
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr">
      <sup>(14)</sup>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      68,976
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,347
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,809
    </td>
    <td>
    </td>
    <td>
    </td>
    <td class="bwpadl0 bwnowrap bwpadr0 bwvertalignb bwalignr" colspan="2">
      66,284
    </td>
    <td>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
    </td>
    <td>
    </td>
    <td colspan="2">
    </td>
    <td>
      &nbsp;
    </td>
  </tr>
</tbody></table>
<p>
  Explanation of Adjustments:
</p>
<p>
  1) Excludes share-based compensation of $6,475 and $8,073 for three 
  months ended December 31, 2015 and December 31, 2014, respectively and 
  $30,177 and $31,164 for the year ended December 31, 2015 and December 
  31, 2014, respectively.
</p>
<p>
  2) Excludes inventory adjustments.
</p>
<p>
  3) Excludes amortization of intangible assets and other charges 
  resulting from transactions with Nycomed, CSL, APP, Teva, Targanta and 
  Rempex.
</p>
<p>
  4) Excludes upfront and milestone payments for research and development 
  collaboration arrangements and manufacturing scale up for MDCO-216.
</p>
<p>
  5) Excludes restructuring charges relating to the reorganization of our 
  European operations of $7,159 in 2014.
</p>
<p>
  6) Excludes changes in contingent purchase price due to shareholders of 
  Targanta, Incline Therapeutics, Rempex and Annovation.
</p>
<p>
  7) Excludes charges related to the acquisition of Tenaxis during 2014.
</p>
<p>
  8) Excludes non-cash interest expense related to convertible senior 
  notes.
</p>
<p>
  9) Excludes investment impairment.
</p>
<p>
  10) Excludes gain on sale of investment.
</p>
<p>
  11) Excludes gain on remeasurement of our equity investment in 
  Annovation.
</p>
<p>
  12) Excludes gain from legal settlement in 2015 and impact of a one-time 
  income in connection with the settlement with the former equity holders 
  of Incline in 2014.
</p>
<p>
  13) Net income tax adjustments reflect the estimated tax effect of the 
  above adjustments and the impact of certain other non-operating tax 
  adjustments.
</p>
<p>
  14) Reflects impact of note hedge transactions on outstanding diluted 
  share amounts and net income per share associated with convertible 
  senior notes.
</p>
<p>
  <i>In addition to the financial information prepared in accordance with 
  U.S. GAAP, this press release also contains adjusted financial measures 
  that we believe provide investors and management with supplemental 
  information relating to operating performance and trends that facilitate 
  comparisons between periods and with respect to projected information.</i> 
  <i>These adjusted measures should be considered in addition to, but not 
  as a substitute for, the information prepared in accordance with U.S. 
  GAAP.</i> <i>We typically exclude certain GAAP items that management 
  does not believe affect our basic operations and that do not meet the 
  GAAP definition of unusual or non-recurring items.</i> <i>Other 
  companies may define these measures in different ways.</i>
</p>
<p>
</p>


Contacts

The Medicines Company
Investor Relations:
Krishna Gorti, MD, +1 973-290-6122
Vice President, Investor Relations
Krishna.Gorti@themedco.com
or
Media:
Bob Laverty, +1 973-290-6162
Vice President, Communications
Robert.Laverty@themedco.com

Contact Us

The Medicines Company
8 Sylvan Way
Parsippany, NJ 07054 USA
Tel 973 290 6000
Toll-free 800 388 1183
Global Medical Information

Human Resources
Verification of employment
Tel 973 290 6361
Fax 862 207 6361

Investors Relations

Krishna Gorti, MD
Tel 973 290 6122
krishna.gorti@themedco.com

Media Inquiries

Michael Blash
Tel 973 290 6100
michael.blash@themedco.com