The Medicines Co. reports second-quarter net revenues up 39% at $59.4 million

By Lisa Kerner

Charlotte, N.C., July 25 - The Medicines Co. reported net revenues of $59.4 million for second-quarter 2006, a 39% increase from the $42.6 million reported for the second quarter of 2005.

For the first half of 2006, net revenues climbed to $94.0 million from $86.2 million for the same period in 2005.

Net income for the second quarter was $10.9 million, up $1.3 million in the prior-year period.

The company had a net loss of $1.2 million for the first half of 2006, down from a net income of $3.6 million for the same period in 2005.

"Demand for Angiomax is accelerating, fueled by the productivity of our sales force," president and chief operating officer John Kelley said in a company news release.

"We continue to make progress on our pipeline products, and we remain on track with phase 3 trial goals."

Management provided revised financial guidance for 2006, including net revenues of $205 million to $212 million, up from $200 million to $210 million, and net income of $6 million to $10 million, up from $4 million to $8 million.

Based in Parsippany, N.J., The Medicines Co. develops products for acute hospital care.

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