exv99w1

Exhibit 99.1


Contact:		Michael Mitchell The Medicines Company 973-290-6000 investor.relations@themedco.com

FOR U.S. AUDIENCES ONLY
FOR IMMEDIATE RELEASE:

THE MEDICINES COMPANY REPORTS FULL YEAR AND FOURTH QUARTER 2009 FINANCIAL RESULTS

Revenue growth driven by Angiomax^® (bivalirudin) market share gains

Product portfolio expanded from existing cash flow

PARSIPPANY, NJ, February 17, 2010 — The Medicines Company (NASDAQ: MDCO) today announced its financial results for the full year and the fourth quarter of 2009.

Financial highlights for the full year of 2009:

•

Net revenue increased by $56 million or 16.1% to $404.2 million for 2009 from $348.2 million in 2008.

	•		Angiomax U.S. sales increased by 14.6% to $382.9 million in 2009 compared to $334.2 million in 2008.

	•		Angiomax/Angiox international net revenue in 2009 increased by 34.6% to $18.3 million compared to $13.6 million in 2008.

	•		Cleviprex ^® (clevidipine butyrate) has now been accepted by more than 425 hospital formularies and has been purchased by 454 hospitals in the United States. Net revenue in the first full commercial year of 2009 was $3.0 million.

•		Net loss for 2009 was ($76.2) million, or ($1.46) per share, compared to a net loss of ($8.5) million, or ($0.16) per share, for 2008. This loss was driven mainly by four items totaling $90.5 million: 1) the Company’s decision to fully reserve against its deferred tax assets ($48.1 million), 2) the acquisition of ApoA-1 Milano asset ($17.5 million), 3) milestone payments, license payments, and other costs, for three products (totaling $21.3 million), and 4) charges related to the Cleviprex recall ($3.6 million).

•		Non-GAAP net loss for 2009 was ($4.8 million), or ($0.09) per share, compared to non-GAAP net income of $37.2 million, or $0.72 per share for 2008. Non-GAAP net income excludes costs associated with the Targanta acquisition, stock-based compensation expense and non-cash income taxes.

Clive Meanwell, Chairman and Chief Executive Officer, stated, “In 2009 we added oritavancin, argatroban and ApoA-1 Milano to create a sector-leading portfolio in intensive and critical care that is diversified by stage and indication. These assets were financed by existing cash flow. In addition, we were able to grow Angiomax/Angiox market share and revenues in a hospital PCI market that was significantly depressed by the global economic crisis.”

Financial highlights for the fourth quarter of 2009:

•

Net revenue increased by 8.7% to $102.1 million for the fourth quarter of 2009 from $ 93.9 million in the fourth quarter of 2008.

	•		Angiomax U.S. sales increased by 9.6% to $96.3 million in the fourth quarter of 2009 compared to $87.9 million in the fourth quarter of 2008.

	•		Angiomax/Angiox international net revenue in the fourth quarter of 2009 decreased by 7.1% to $5.2 million compared to $5.6 million in the fourth quarter of 2008.

	•		Cleviprex U.S. sales in the fourth quarter of 2009 amounted to $0.6 million.

•		Net loss for the fourth quarter of 2009 was ($73.5) million, or ($1.40) per share, compared to a net loss of ($4.2) million, or ($0.08) per share, for the fourth quarter of 2008. This loss was driven mainly by four items totaling $79.0 million: 1) the Company’s decision to fully reserve against its deferred tax assets ($43.6 million), 2) the acquisition of ApoA-1 Milano asset ($17.5 million), 3) milestone payments, license payments, and other costs for three products (totaling $14.3 million), and 4) charges related to the Cleviprex recall ($3.6 million).

•		Non-GAAP net loss for the fourth quarter of 2009 was ($25.6 million), or ($0.49) per share, compared to non-GAAP net income of $1.8 million, or $0.03 per share for the fourth quarter of 2008. Non-GAAP net income excludes costs associated with the Targanta acquisition, stock-based compensation expense and non-cash income taxes.

The following table provides reconciliations between GAAP and non-GAAP net (loss) income for the full year (FY) and fourth quarter (Q4) of 2009 and 2008. Non-GAAP net income excludes the transaction charges related to the Targanta and Curacyte acquisitions, stock-based compensation expense and non-cash income taxes:


										Non-cash
								FAS 123R		Provision
	Reported			Targanta		Curacyte		Stock-Based		(Benefit) for		Non-GAAP
	GAAP Net			Acquisition		Acquisition		Compensation		Income		Net (Loss)
(in millions)	(Loss) Income			Costs		Costs		Expense		Taxes		Income (1)

FY 2009		($76.2	)	$	4.3		—	$	19.4	$	47.7		($4.8	)

FY 2008		($8.5	)		—	$	13.2	$	22.8	$	9.7	$	37.2

Q4 2009		($73.5	)		—		—	$	4.1	$	43.8		($25.6	)

Q4 2008		($4.2	)		—		—	$	5.4	$	0.6	$	1.8


		Note: Amounts may not sum due to rounding.

(1)		Excluding the Targanta acquisition costs, Curacyte Discovery acquistion costs, stock-based compensation expense and the non-cash provision (benefit) for income taxes.

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Reconciliations between GAAP and non-GAAP fully diluted (loss) earnings per share (EPS) for the full year (FY) and fourth quarter (Q4) of 2009 and 2008 are provided in the following table:


										Non-cash
								FAS 123R		Provision
	Reported			Targanta		Curacyte		Stock-Based		(Benefit) for
	GAAP			Acquisition		Acquisition		Compensation		Income		Non-GAAP
(per share)	EPS			Costs		Costs		Expense		Taxes		EPS (1)

FY 2009		($1.46	)	$	0.08		—	$	0.37	$	0.91		($0.09	)

FY 2008		($0.16	)		—	$	0.25	$	0.44	$	0.19	$	0.72

Q4 2009		($1.40	)		—		—	$	0.08	$	0.84		($0.49	)

Q4 2008		($0.08	)		—		—	$	0.10	$	0.01	$	0.03


Note: Amounts may not sum due to rounding.

(1)		Excluding the Targanta acquisition costs, Curacyte Discovery acquistion costs, stock-based compensation expense and the non-cash provision (benefit) for income taxes.

The Company believes that presenting the non-GAAP information contained in the financial tables and in this press release assists investors and others in gaining a better understanding of the Company’s core operating results and future prospects, expected growth rates or forecasted guidance, particularly as related to transaction charges associated with the Targanta acquisition, stock-based compensation expense and non-cash income taxes. Management uses this non-GAAP information, in addition to the GAAP information, as the basis for measuring the Company’s core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. Such measures are also used by management in its financial and operating decision-making. Non-GAAP information is not meant to be considered superior to or a substitute for the Company’s results of operations prepared in accordance with GAAP. A reconciliation of GAAP results with non-GAAP results may also be found in the attached financial tables.

There will be a conference call with management today at 8:30 a.m. Eastern Time to discuss full year and fourth quarter 2009 financial results and operational developments.

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The conference call will be available via phone and webcast. The webcast can be accessed at The Medicines Company website at www.themedicinescompany.com.

The dial in information is listed below:


Domestic Dial In:		800.599.9829
International Dial In:		617.847.8703
Passcode for both dial in numbers:		95981334

Replay is available from 11:30 a.m. Eastern Time following the conference call through February 24, 2010. To hear a replay of the call dial 888-286-8010 (domestic) and 617-801-6888 (international). Passcode for both dial in numbers is 99158077.

About The Medicines Company

The Medicines Company (NASDAQ: MDCO) is focused on advancing the treatment of critical care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace. The Company markets Angiomax^® (bivalirudin) in the United States and other countries for use in patients undergoing coronary angioplasty, and Cleviprex^® (clevidipine butyrate) injectable emulsion in the United States for the reduction of blood pressure when oral therapy is not feasible or not desirable. The Company’s website is www.themedicinescompany.com.

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 revenue results, are intended to identify forward-looking statements. These forward-looking statements involve 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 Angiomax, the Company’s ability to develop its global operations and penetrate foreign markets, whether the Company’s products 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 physicians, patients and other key decision makers will accept clinical trial results, risks associated with the establishment of international operations, 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, 2009, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements.

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The Medicines Company
Condensed Consolidated Statements of Operations
(unaudited)


(in thousands, except per share data)	Three months ended December 31,
	2009			2008

Net revenue	$	102,060		$	93,873

Operating expenses:
Cost of revenue		31,190			25,234
Research and development		48,925			23,202
Selling, general and administrative		46,969			47,900

Total operating expenses		127,084			96,336


Income (loss) from operations		(25,024	)		(2,463	)

Other income (loss)		(4,873	)		(22	)


Income (loss) before income taxes		(29,897	)		(2,485	)
Provision for income taxes		(43,597	)		(1,713	)


Net income (loss)	$	(73,494	)	$	(4,198	)


Basic earnings (loss) per common share	$	(1.40	)	$	(0.08	)

Shares used in computing basic earnings (loss) per common share		52,395			52,089


Diluted earnings (loss) per common share	$	(1.40	)	$	(0.08	)

Shares used in computing diluted earnings (loss) per common share		52,395			52,089

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The Medicines Company
Condensed Consolidated Statements of Operations
(unaudited)


(in thousands, except per share data)	Year to Date December 31,
	2009			2008
Net revenue	$	404,241		$	348,157
Operating expenses:
Cost of revenue		118,148			88,355
Research and development		117,610			105,720
Selling, general and administrative		193,832			164,903

Total operating expenses		429,590			358,978

Income (loss) from operations		(25,349	)		(10,821	)

Other income (loss)		(2,818	)		5,235

Income (loss) before income taxes		(28,167	)		(5,586	)
Provision for income taxes		(48,062	)		(2,918	)

Net income (loss)	$	(76,229	)	$	(8,504	)

Basic earnings (loss) per common share	$	(1.46	)	$	(0.16	)

Shares used in computing basic earnings (loss) per common share		52,269			51,904


Diluted earnings (loss) per common share	$	(1.46	)	$	(0.16	)

Shares used in computing diluted earnings (loss) per common share		52,269			51,904

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The Medicines Company
Condensed Consolidated Balance Sheets


	December 31,		December 31,
(in thousands)	2009		2008

ASSETS
Cash, cash equivalents and available for sales securities	$	176,191	$	216,206
Accrued interest receivable		922		1,336
Accounts receivable, net		29,789		33,657
Inventory		25,836		28,229
Prepaid expenses and other current assets		9,984		16,402

Total current assets		242,722		295,830


Fixed assets, net		25,072		27,331
Intangible assets, net		15,178		16,349
Restricted cash		7,049		5,000
Deferred tax assets		—		37,657
In Process Research & Development		69,500		—
Goodwill		14,934		—
Other assets		321		5,237

Total assets	$	374,776	$	387,404


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	86,619	$	83,608
Contingent purchase price		23,667		—
Other Long Term Liabilities		24,101		5,771
Stockholders’ equity		240,389		298,025

Total liabilities and stockholders’ equity	$	374,776	$	387,404

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The Medicines Company
Reconciliation of GAAP to non-GAAP Measures
(All amounts in thousands, except per share amounts)
(Unaudited)


	Three Months Ended December 31,
	2009
				Targanta						Non-cash			Non-GAAP (5)
	GAAP⁽¹⁾			Acquisition			SFAS 123R			Tax Provision			As Adjusted
Net revenue	$	102,060		$	—		$	—		$	—		$	102,060

Operating expenses:
Cost of revenue		31,190			—			(187	)⁽³⁾		—			31,003
Research and development		48,925						(672	)⁽³⁾		—			48,253
Selling, general and administrative		46,969			—	⁽²⁾		(3,250	)⁽³⁾		—			43,719

Total operating expenses		127,084			—			(4,109	)		—			122,975

(Loss) income from operations		(25,024	)		—			4,109			—			(20,915	)

Other (loss)/income		(4,873	)		—			—			—			(4,873	)

(Loss) income before income taxes		(29,897	)		—			4,109			—			(25,788	)
Benefit (Provision) for income taxes		(43,597	)		—	⁽²⁾		—			43,764	⁽⁴⁾		167

Net (loss) income		(73,494	)		—			4,109			43,764			(25,621	)

Basic (loss) earnings per common share	$	(1.40	)	$	—		$	0.08		$	0.84		$	(0.49	)


Shares used in computing basic earnings (loss) per common share		52,395			52,395			52,395			52,395			52,395


Diluted (loss) earnings per common share	$	(1.40	)	$	—		$	0.08		$	0.84		$	(0.49	)


Shares used in computing diluted (loss) earnings per common share		52,395			52,395			52,395			52,395			52,395


⁽¹⁾		GAAP Results

⁽²⁾		Targanta Acquisition

⁽³⁾		Non-cash stock compensation expense

⁽⁴⁾		Non-cash income taxes

⁽⁵⁾		Non-GAAP Results

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The Medicines Company
Reconciliation of GAAP to non-GAAP Measures
(All amounts in thousands, except per share amounts)
(Unaudited)


	Twelve Months Ended December 31,
	2009
	GAAP (1)			Targanta						Non-cash			Non-GAAP (5)
	As Reported			Acquisition			SFAS 123R			Tax Provision			As Adjusted
Net revenue	$	404,241		$	—		$	—		$	—		$	404,241

Costs and expenses:
Cost of revenue		118,148			—			(884	)⁽³⁾		—			117,264
Research and development		117,610						(3,438	)⁽³⁾		—			114,172
Selling, general and administrative		193,832			(4,281	)⁽²⁾		(15,115	)⁽³⁾		—			174,436

Total operating expenses		429,590			(4,281	)		(19,437	)		—			405,872

Income (loss) from operations		(25,349	)		4,281			19,437			—			(1,631	)

Other (loss)/income		(2,818	)		—			—			—			(2,818	)

Income before income taxes		(28,167	)		4,281			19,437			—			(4,449	)
(Provision) benefit for income taxes		(48,062	)			⁽²⁾		—			47,736	⁽⁴⁾		(326	)

Net income (loss)		(76,229	)		4,281			19,437			47,736			(4,775	)

Basic (loss) earnings per common share	$	(1.46	)	$	0.08		$	0.37		$	0.91		$	(0.09	)


Shares used in computing basic earnings (loss) per common share		52,269			52,269			52,269			52,269			52,269


Diluted earnings per common share	$	(1.46	)	$	0.08		$	0.37		$	0.91		$	(0.09	)

Shares used in computing diluted earnings (loss) per common share		52,269			52,269			52,269			52,269			52,269


⁽¹⁾		GAAP Results

⁽²⁾		Targanta Acquisition

⁽³⁾		Non-cash stock compensation expense

⁽⁴⁾		Non-cash income taxes

⁽⁵⁾		Non-GAAP Results

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