Selected Quarterly Financial Data (Unaudited)

The following table presents selected quarterly financial data for the years ended December 31, 2016 and 2015.



	Three Months Ended
	March 31, 2016			June 30, 2016			Sept. 30, 2016			Dec. 31, 2016			March 31, 2015			June 30, 2015			Sept. 30, 2015			Dec. 31, 2015
				(1)									(2)			(3)			(4)			(5)
	(In thousands, except per share data)
Total net revenues	$	50,306		$	54,731		$	37,599		$	25,199		$	110,115		$	74,519		$	57,206		$	67,167
Cost of product revenues	18,797			15,230			20,777			16,543			20,538			24,756			49,188			25,449
Total operating expenses	131,586			146,955			113,336			137,883			124,606			151,099			163,181			142,594
Net (loss) income from continuing operations	(81,280		)	(92,224		)	(75,737		)	(112,684		)	(14,491		)	(76,580		)	(105,975		)	(75,427		)

Net income (loss) from continuing operations attributable to The Medicines Company	$	(90,343	)	$	181,823		$	(86,354	)	$	(124,428	)	$	4,373		$	(67,445	)	$	(90,617	)	$	(68,241	)
Net income (loss) from discontinued operations, net of tax attributable to The Medicines Company	(2,105		)	619			96			1,574			661			20,853			(14,515		)	(137,825		)
Net loss attributable to The Medicines Company	$	(92,448	)	$	182,442		$	(86,258	)	$	(122,854	)	$	5,034		$	(46,592	)	$	(105,132	)	$	(206,066	)

Diluted (loss) income per common share attributable to The Medicines Company:
(Loss) income from continuing operations	$	(1.31	)	$	2.51		$	(1.23	)	$	(1.77	)	$	0.07		$	(1.02	)	$	(1.35	)	$	(0.99	)
(Loss) income from discontinued operations	(0.03		)	0.01			—			0.02			0.01			0.31			(0.22		)	(2.00		)
Diluted loss per share	$	(1.34	)	$	2.52		$	(1.23	)	$	(1.75	)	$	0.08		$	(0.71	)	$	(1.57	)	$	(2.99	)

______________________________________


(1)	On June 21, 2016, the Company completed the sale of its Non-Core ACC Products pursuant to the purchase and sale agreement dated May 9, 2016 by and among the Company, Chiesi USA and Chiesi. As a result of this sale, the Company realized a gain on sale of business of $288.3 million.

(2)

In February 2015, the Company completed the acquisition of Annovation and Annovation became our wholly owned subsidiary. The acquisition of Annovation was accounted for as a step acquisition which required that the fair value of our existing 35.8% ownership interest (previously accounted for as an equity method investment) be remeasured. The fair value of our interest in Annovation was $25.9 million upon the closing of the acquisition, resulting in a non-cash pre-tax gain of $22.7 million.


(3)	In the second quarter of 2015, the Company sold an investment in a specialty pharmaceutical company that had a zero cost basis as the carrying amount was deemed impaired in 2009 and realized a net gain on sale of approximately $19.8 million. This amount is reflected in the consolidated statement of operations as a gain on sale of investment in 2015.


(4)	Net loss for the third quarter of 2015 includes an inventory obsolescence charge of $16.7 million and a charge of $15.7 million for potential losses on future inventory purchase commitments due primarily to the loss of market exclusivity for Angiomax in the United States.

(5)

On February 1, 2016, the Company completed the sale of its Hemostasis Business. As a result of the transaction, the Company is accounting for the assets and liabilities of the Hemostasis Business to be sold as held for sale. As a result of the classification as held for sale, we recorded impairment charges of $133.3 million, including $24.5 million related to goodwill, in the fourth quarter of 2015 to reduce the Hemostasis Business disposal group’s carrying value to its estimated fair value, less costs to sell. See Note 24 “Discontinued Operations” for further details.