The Medicines Company Announces Pricing of Initial Public Offering of 6.0 Million Shares of Common Stock At $16 Per Share
Health/Medical Writers
CAMBRIDGE, Mass.--(BW HealthWire)--August 8, 2000--The Medicines
Company (Nasdaq:MDCO) announced today that it has priced its initial public
offering of 6,000,000 shares of common stock at $16.00 per share. The
Medicines Company has granted the underwriters an option to purchase an
additional 900,000 shares of its common stock to cover over-allotments, if
any. The Medicines Company intends to use the net proceeds from the
offering to fund the commercial launch of Angiomax(TM) for use in patients
with unstable angina undergoing angioplasty, product development activities,
including additional clinical trials of Angiomax, working capital, capital
expenditures, other general corporate purposes and the acquisition of
additional products.
J.P. Morgan & Co. was the sole bookrunner for the offering, with Robertson
Stephens acting as co-lead manager and CIBC World Markets acting as
co-manager.
A registration statement relating to these securities was filed with and
declared effective by the U.S. Securities and Exchange Commission. Copies
of the prospectus related to the offering can be obtained from: J.P. Morgan, 60
Wall Street, New York, NY 10166,(212) 483-2323.
Based in Cambridge Massachusetts, The Medicines Company acquires,
develops and commercializes biopharmaceutical products in late stages of
development. The Company's lead product, Angiomax, directly blocks or
inhibits the actions of thrombin, a key component in the formation and growth
of blood clots. In May 2000, the Company received an approvable letter from
the U.S. Food and Drug Administration for the use of Angiomax in the
treatment of patients with unstable angina undergoing angioplasty.
This announcement shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state. |
