PARSIPPANY, N.J.--(BUSINESS WIRE)--The Medicines Company (NASDAQ:MDCO) announced that it proposes to offer $150 million aggregate principal amount of convertible senior notes due 2024, subject to market conditions and other factors. The notes are to be offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will be convertible, upon certain conditions, into cash, shares of the Company’s common stock or a combination thereof, at the Company’s option. The interest rate, conversion rate, offering price and other terms will be determined by negotiations among the Company and J.P. Morgan Securities LLC, the initial purchaser of the notes. The Company also expects to grant to the initial purchaser an option to purchase up to an additional $22.5 million aggregate principal amount of the notes.

Sarissa Capital Management LP, an affiliate of Alexander J. Denner, Ph.D., the chairman of the Company’s board of directors, has indicated an intent to purchase $20 million aggregate principal amount of the notes.

About The Medicines Company

The Medicines Company is a biopharmaceutical company driven by an overriding purpose – to save lives, alleviate suffering and contribute to the economics of healthcare. The Company’s goal is to create transformational solutions to address the most pressing healthcare needs facing patients, physicians, and providers in cardiovascular care. The Company is headquartered in Parsippany, New Jersey.