PARSIPPANY, NJ -- (Marketwire) -- 07/28/10 -- The Medicines Company (NASDAQ: MDCO) today announced its financial results for the second quarter of 2010.

Financial highlights for the second quarter of 2010:

--  Net revenue increased to $110.1 million for the second quarter from
    $104.2 million for the second quarter 2009.
    --  Angiomax U.S. sales increased to $104.4 million compared to $98.8
        million for the second quarter 2009.
    --  Angiomax/Angiox international net revenue increased to $5.8 million
        compared to $4.5 million for the second quarter 2009.
--  Net income was $15.4 million, or $0.29 per share, compared to net
    income of $3.8 million, or $0.07 per share for the second quarter 2009.
--  Non-GAAP net income was $18.3 million, or $0.35 per share, compared to
    non-GAAP net income of $12.3 million, or $0.24 per share for the same
    period 2009.  Non-GAAP net income excludes the transaction charges
    related to the 2009 Targanta acquisition, stock-based compensation
    expense and non-cash income taxes.

Clive Meanwell, Chairman and Chief Executive Officer, stated, "In the second quarter revenues reached record levels globally with market share gains of the Angiomax/Angiox franchise in the U.S. and major European markets. We also made progress with our development portfolio of three Phase 3 and two earlier stage compounds. In addition, we continue to tighten expenditures with the result that our net income was robust and we improved our cash position substantially."

Financial highlights for the first six months of 2010:

--  Net revenue increased to $212.2 million for the first six months of
    2010 from $203.4 million for same period 2009.
    --  Angiomax U.S. sales increased to $200.8 million compared to $195.7
        million for same period 2009.
    --  Angiomax/Angiox international net revenue increased to $11.4
        million compared to $7.7 million for same period 2009.
--  Net income was $24.9 million, or $0.47 per share, compared to net
    income of $0.5 million, or $0.01 per share for same period 2009.
--  Non-GAAP net income was $30.8 million, or $0.58 per share, compared to
    non-GAAP net income of $15.5 million, or $0.29 per share for the same
    period 2009.  Non-GAAP net income excludes the transaction charges
    related to the 2009 Targanta acquisition, stock-based compensation
    expense and non-cash income taxes.

The following table provides reconciliations between GAAP and non-GAAP net income (loss) for second quarter (Q2) and first six months (6M) of 2010 and 2009. Non-GAAP net income excludes the transaction charges related to the first quarter 2009 Targanta acquisition, stock-based compensation expense and non-cash income taxes:

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

Q2 2010    $       15.4 $          - $        2.3 $       0.5  $       18.3

Q2 2009    $        3.8 $        0.3 $        5.4 $       2.8  $       12.3

6M 2010    $       24.9 $          - $        5.1 $       0.9  $       30.8

6M 2009    $        0.5 $        4.3 $       10.9 $      (0.2) $       15.5

Note: Amounts may not sum due to rounding.
(1) Excluding the Targanta acquisition costs, stock-based compensation
expense and the non-cash provision (benefit) for income taxes.

Reconciliations between GAAP and non-GAAP fully diluted earnings per share (EPS) for the second quarter (Q2) and first six months (6M) of 2010 and 2009 are provided in the following table:

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

Q2 2010    $       0.29 $          - $       0.04 $       0.01 $       0.35

Q2 2009    $       0.07 $       0.01 $       0.10 $       0.05 $       0.24

6M 2010    $       0.47 $          - $       0.10 $       0.02 $       0.58

6M 2009    $       0.01 $       0.08 $       0.21 $          - $       0.29

Note: Amounts may not sum due to rounding.
(1) Excluding the Targanta acquisition costs, stock-based compensation
expense and the non-cash provision 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 financial results and operational developments. 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:                       866-362-5158
        International Dial In:                  617-597-5397
        Passcode for both dial in numbers:      83135911

Replay is available from 11:30 a.m. Eastern Time following the conference call through August 11, 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 37130585.

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 May 10, 2010, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements.

                          The Medicines Company
              Condensed Consolidated Statements of Operations
                                (unaudited)

(in thousands, except per share data)         Three months ended June 30,
                                              ----------------------------
                                                  2010           2009
                                              -------------  -------------

Net revenue                                   $     110,135  $     104,175

Operating expenses:
  Cost of revenue                                    33,568         30,353
  Research and development                           20,575         21,784
  Selling, general and administrative                39,409         45,910
                                              -------------  -------------
     Total operating expenses                        93,552         98,047
                                              -------------  -------------

Income from operations                               16,583          6,128

Other (expense) income                                 (117)           734
                                              -------------  -------------

Income before income taxes                           16,466          6,862
Provision for income taxes                           (1,040)        (3,051)
                                              -------------  -------------

Net income                                    $      15,426  $       3,811
                                              =============  =============

Basic earnings per common share               $        0.29  $        0.07
                                              =============  =============
Shares used in computing basic earnings per
 common share                                        52,819         52,232
                                              =============  =============

Diluted earnings per common share             $        0.29  $        0.07
                                              =============  =============
Shares used in computing diluted earnings
 per common share                                    52,924         52,532
                                              =============  =============








                          The Medicines Company
              Condensed Consolidated Statements of Operations
                                (unaudited)

(in thousands, except per share data)           Six months ended June 30,
                                              ----------------------------
                                                  2010           2009
                                              -------------  -------------

Net revenue                                   $     212,223  $     203,392

Operating expenses:
  Cost of revenue                                    62,337         58,650
  Research and development                           37,452         46,221
  Selling, general and administrative                85,530         99,504
                                              -------------  -------------
     Total operating expenses                       185,319        204,375
                                              -------------  -------------

Income (loss) from operations                        26,904           (983)

Other (expense) income                                 (428)         1,903
                                              -------------  -------------

Income before income taxes                           26,476            920
Provision for income taxes                           (1,618)          (458)
                                              -------------  -------------

Net income                                    $      24,858  $         462
                                              =============  =============

Basic earnings per common share               $        0.47  $        0.01
                                              =============  =============
Shares used in computing basic earnings per
 common share                                        52,658         52,187
                                              =============  =============

Diluted earnings per common share             $        0.47  $        0.01
                                              =============  =============
Shares used in computing diluted earnings
 per common share                                    52,823         52,534
                                              =============  =============









                          The Medicines Company
                  Condensed Consolidated Balance Sheets


                                                    June 30,   December 31,
(in thousands)                                        2010         2009
                                                  ------------ ------------

                     ASSETS
Cash, cash equivalents and available for sales
 securities                                       $    218,803 $    176,191

Accrued interest receivable                              1,256          922

Accounts receivable, net                                20,719       29,789

Inventory                                               28,423       25,836

Prepaid expenses and other current assets                6,029        9,984
                                                  ------------ ------------

    Total current assets                               275,230      242,722
                                                  ------------ ------------

Fixed assets, net                                       22,166       25,072

Intangible assets, net                                  83,802       84,678

Restricted cash                                          7,049        7,049

Goodwill                                                14,671       14,934

Other assets                                               257          321
                                                  ------------ ------------

    Total assets                                  $    403,175 $    374,776
                                                  ============ ============

       LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities                               $     80,130 $     86,619

 Contingent purchase price                              25,145       23,667

 Deferred tax liability                                 19,252       18,395

 Other long term liabilities                             5,784        5,706

Stockholders' equity                                   272,864      240,389
                                                  ------------ ------------

    Total liabilities and stockholders' equity    $    403,175 $    374,776
                                                  ============ ============








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


                              Three Months Ended June 30,
             -------------------------------------------------------------
                                         2010
             -------------------------------------------------------------
                        Targanta                   Non-cash     Non-GAAP(5)
                       Acquisition                   Tax            As
              GAAP(1)      (2)     SFAS 123R       Provision     Adjusted
             ---------  ---------  ---------      ----------     ---------
Net  revenue $ 110,135  $       -  $       -      $        -     $ 110,135

Operating
 expenses:
  Cost of
   revenue      33,568          -        (72) (3)          -        33,496
  Research
   and
   development  20,575          -       (442) (3)          -        20,133
  Selling,
   general
   and
   administ-
   rative       39,409          -     (1,823) (3)          -        37,586
             ---------  ---------  ---------      ----------     ---------
    Total
     operating
     expenses   93,552          -     (2,337)              -        91,215

Income from
 operations     16,583          -      2,337               -        18,920

  Other
   (loss)
   income         (117)         -          -               -          (117)
             ---------  ---------  ---------      ----------     ---------
  Income
   before
   income
   taxes        16,466          -      2,337               -        18,803
  (Provision)
   benefit
   for
   income
   taxes        (1,040)         -          -             531 (4)      (509)
             ---------  ---------  ---------      ----------     ---------
Net income      15,426          -      2,337             531        18,294

Basic
 earnings
 per common
 share       $    0.29  $       -  $    0.04      $     0.01     $    0.35
             =========  =========  =========      ==========     =========

Shares used
 in
 computing
 basic
 earnings
 per common
 share          52,819     52,819     52,819          52,819        52,819
             =========  =========  =========      ==========     =========

Diluted
 earnings
 per common
 share       $    0.29  $       -  $    0.04      $     0.01     $    0.35
             =========  =========  =========      ==========     =========

Shares used
 in
 computing
 diluted
 earnings
 per common
 share          52,924     52,924     52,924          52,924        52,924
             =========  =========  =========      ==========     =========

(1) GAAP Results
(2) Targanta Acquisition
(3) Non-cash stock compensation expense
(4) Non-cash income taxes
(5) Non-GAAP Results









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


                               Six Months Ended June 30,
             -------------------------------------------------------------
                                         2010
             -------------------------------------------------------------
                        Targanta                   Non-cash     Non-GAAP(5)
                       Acquisition                   Tax            As
              GAAP(1)      (2)     SFAS 123R       Provision     Adjusted
             ---------  ---------  ---------      ----------     ---------
Net revenue  $ 212,223  $       -  $       -      $        -     $ 212,223

Costs and
 expenses:
  Cost of
   revenue      62,337          -       (161) (3)          -        62,176
  Research
   and
   development  37,452          -     (1,238) (3)          -        36,214
  Selling,
   general
   and
   administ-
   rative       85,530          -     (3,681) (3)          -        81,849
             ---------  ---------  ---------      ----------     ---------
    Total
     operating
     expenses  185,319          -     (5,080)              -       180,239

Income from
 operations     26,904          -      5,080               -        31,984

  Other
   (loss)
   income         (428)         -          -               -          (428)
             ---------  ---------  ---------      ----------     ---------
  Income
   before
   income
   taxes        26,476          -      5,080               -        31,556

  (Provision)
   benefit
   for
   income
   taxes        (1,618)         -          -             857 (4)      (761)
             ---------  ---------  ---------      ----------     ---------
Net  income     24,858          -      5,080             857        30,795

Basic
 earnings
 per common
 share       $    0.47  $       -  $    0.10      $     0.02     $    0.58
             =========  ========== =========      ==========     =========

Shares used
 in
 computing
 basic
 earnings
 per common
 share          52,658      52,658    52,658          52,658        52,658
             =========  ========== =========      ==========     =========

Diluted
 earnings
 per common
 share       $    0.47  $        - $    0.10      $     0.02     $    0.58
             =========  ========== =========      ==========     =========

Shares used
 in
 computing
 diluted
 earnings
 per common
 share          52,823      52,823    52,823          52,823        52,823
             =========  ========== =========      ==========     =========

(1) GAAP Results
(2) Targanta Acquisition
(3) Non-cash stock compensation expense
(4) Non-cash income taxes
(5) Non-GAAP Results