Medicines (MDCO) 10-Q 27 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 24, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	MEDICINES CO /DE
Entity Central Index Key	1,113,481
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		70,793,992

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 600,356	$ 373,173
Accounts receivable, net of allowances of approximately $4.0 million and $17.6 million at September 30, 2016 and December 31, 2015	28,355	52,328
Inventory	70,654	64,584
Prepaid expenses and other current assets	18,006	19,995
Current assets held for sale	0	322,837
Total current assets	717,371	832,917
Fixed assets, net	32,450	34,780
Intangible assets, net	621,690	636,220
Goodwill	255,629	289,441
Restricted cash	5,050	1,428
Contingent purchase price from sale of businesses	143,700	0
Other assets	743	730
Total assets	1,776,633	1,795,516
Current liabilities:
Accounts payable	18,734	36,038
Accrued expenses	81,531	128,558
Current portion of contingent purchase price	39,800	26,800
Convertible senior notes	53,054	255,473
Deferred revenue	14,139	19,863
Current liabilities held for sale	0	67,515
Total current liabilities	207,258	534,247
Contingent purchase price	89,610	96,957
Convertible senior notes	617,490	312,107
Deferred tax liabilities	88,350	89,996
Other liabilities	10,879	13,346
Total liabilities	1,013,587	1,046,653
Equity component of currently redeemable convertible senior notes	1,641	17,089
Stockholders’ equity:
Preferred stock, $1.00 par value per share, 5,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.001 par value per share, 187,500,000 authorized; 72,983,092 issued and 70,790,110 outstanding at September 30, 2016 and 71,767,371 issued and 69,574,389 outstanding at December 31, 2015	73	72
Additional paid-in capital	1,243,463	1,208,058
Treasury stock, at cost; 2,192,982 shares at September 30, 2016 and December 31, 2015	(50,000)	(50,000)
Accumulated deficit	(426,132)	(429,865)
Accumulated other comprehensive (loss) income	(5,484)	3,973
Total The Medicines Company stockholders’ equity	761,920	732,238
Non-controlling interest in joint venture	(515)	(464)
Total stockholders’ equity	761,405	731,774
Total liabilities and stockholders’ equity	$ 1,776,633	$ 1,795,516

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Allowances for accounts receivable	$ 4	$ 17.6
Stockholders’ equity:
Preferred stock, par value (USD per share)	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized	187,500,000	187,500,000
Common stock, shares, issued	72,983,092	71,767,371
Common stock, shares outstanding	70,790,110	69,574,389
Treasury stock, shares	2,192,982	2,192,982

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net product revenues	$ 18,843	$ 32,703	$ 80,542	$ 217,337
Royalty revenues	18,756	24,503	62,094	24,503
Total net revenues	37,599	57,206	142,636	241,840
Operating expenses:
Cost of product revenues	20,777	49,188	54,804	94,482
Research and development	23,537	27,102	94,595	83,420
Selling, general and administrative	69,022	86,892	242,478	260,986
Total operating expenses	113,336	163,182	391,877	438,888
Loss from operations	(75,737)	(105,976)	(249,241)	(197,048)
Co-promotion and license income	757	985	3,073	10,011
Gain on remeasurement of equity investment	0	0	0	22,597
Gain on sale of investment	0	0	0	19,773
Gain on sale of assets	0	0	288,301	0
Loss on extinguishment of debt	0	0	(5,380)	0
Legal settlement	0	5,000	0	5,000
Interest expense	(12,089)	(9,547)	(32,198)	(27,510)
Other income (loss)	865	(89)	741	609
(Loss) income from continuing operations before income taxes	(86,204)	(109,627)	5,296	(166,568)
(Provision) benefit for income taxes	(163)	19,001	(220)	12,895
Net (loss) income from continuing operations	(86,367)	(90,626)	5,076	(153,673)
Income (loss) from discontinued operations, net of tax	96	(14,515)	(1,390)	6,999
Net (loss) income	(86,271)	(105,141)	3,686	(146,674)
Net loss (income) attributable to non-controlling interest	13	9	50	(16)
Net (loss) income attributable to The Medicines Company	(86,258)	(105,132)	3,736	(146,690)
Amounts attributable to The Medicines Company:
Net (loss) income from continuing operations	(86,354)	(90,617)	5,126	(153,689)
Income (loss) from discontinued operations, net of tax	96	(14,515)	(1,390)	6,999
Net (loss) income attributable to The Medicines Company	$ (86,258)	$ (105,132)	$ 3,736	$ (146,690)
Basic (loss) earnings per common share attributable to The Medicines Company:
(Loss) earnings from continuing operations (USD per share)	$ (1.23)	$ (1.35)	$ 0.07	$ (2.33)
(Loss) earnings from discontinued operations (USD per share)	0	(0.22)	(0.02)	0.11
Basic (loss) earnings per share (USD per share)	(1.23)	(1.57)	0.05	(2.22)
Diluted earnings (loss) per common share attributable to The Medicines Company:
(Loss) earnings from continuing operations (USD per share)	(1.23)	(1.35)	0.07	(2.33)
(Loss) earnings from discontinued operations (USD per share)	0	(0.22)	(0.02)	0.11
Diluted (loss) earnings per share (USD per share)	$ (1.23)	$ (1.57)	$ 0.05	$ (2.22)
Weighted average number of common shares outstanding:
Basic (shares)	70,194	67,137	69,711	66,079
Diluted (shares)	70,194	67,137	72,920	66,079

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (86,271)	$ (105,141)	$ 3,686	$ (146,674)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(70)	(1,095)	208	859
Amounts reclassified from accumulated other comprehensive income	0	0	(9,665)	0
Other comprehensive (loss) income	(70)	(1,095)	(9,457)	859
Comprehensive loss	(86,341)	(106,236)	(5,771)	(145,815)
Less: comprehensive loss (income) attributable to non-controlling interest	13	9	50	(16)
Comprehensive loss attributable to The Medicines Company	$ (86,328)	$ (106,227)	$ (5,721)	$ (145,831)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net (loss) income	$ 3,686	$ (146,674)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	22,517	24,180
Asset impairment charges	0	29,413
Amortization of debt discount	19,392	17,532
Unrealized foreign currency transaction gains, net	(125)	(576)
Stock compensation expense	24,541	23,973
Gain on sale of businesses	(289,305)	0
Loss on disposal of fixed assets	1	543
Deferred tax benefit	(1,661)	(43,393)
Extinguishment of debt	5,380	0
Gain on sale of investment	0	(19,773)
Gain on remeasurement of equity investment	0	(22,597)
Reserve for excess or obsolete inventory	7,350	40,837
Changes in contingent consideration obligations	13,573	14,423
Changes in operating assets and liabilities:
Accrued interest receivable	(13)	0
Accounts receivable	24,125	115,797
Inventory, net	(14,077)	(57,783)
Prepaid expenses and other current assets	1,920	(7,378)
Accounts payable	(17,265)	(2,113)
Accrued expenses	(49,110)	(21,655)
Deferred revenue	(5,761)	25,161
Payments on contingent purchase price	0	(49,192)
Other liabilities	(6,153)	(6,186)
Net cash used in operating activities	(260,985)	(85,461)
Cash flows from investing activities:
Proceeds from sale of fixed assets	0	250
Proceeds from sale of investment	0	19,773
Purchases of fixed assets	(920)	(2,421)
Acquisition of business, net of cash acquired	0	(28,397)
Payments for intangible assets	(10,000)	(112,617)
Proceeds from sale of businesses	437,875	0
Change in restricted cash	(3,660)	61
Net cash provided by (used in) investing activities	423,295	(123,351)
Cash flows from financing activities:
Proceeds from issuances of common stock, net	27,404	89,718
Milestone payments	(7,921)	(130,058)
Proceeds from the issuance of convertible senior notes	402,500	400,000
Repayments of convertible senior notes	(323,225)	0
Purchase of capped call transactions related to convertible senior notes	(33,931)	0
Proceeds from settlement of bond hedges related to convertible senior notes	100,459	0
Settlement of warrants	(87,874)	0
Debt and equity issuance costs	(11,725)	(12,769)
Net cash provided by financing activities	65,687	346,891
Effect of exchange rate changes on cash	(814)	(12)
Increase in cash and cash equivalents	227,183	138,067
Cash and cash equivalents at beginning of period	373,173	370,741
Cash and cash equivalents at end of period	600,356	508,808
Supplemental disclosure of cash flow information:
Interest paid	11,891	6,946
Taxes paid	$ 27	$ 89

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business The Medicines Company (the Company) is a global biopharmaceutical company focused on saving lives, alleviating suffering and contributing to the economics of healthcare. The Company markets Angiomax ® (bivalirudin), Ionsys ® (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv ® (oritavancin). The Company also has a pipeline of products in development, including Carbavance ® , MDCO-216, MDCO-700 (formerly known as ABP-700) and PCSK9si (formerly known as ALN-PCSsc). The Company has the right to develop, manufacture and commercialize PCSK9si under its collaboration agreement with Alnylam Pharmaceuticals, Inc. (Alnylam). The Company believes that its products and products in development possess favorable attributes that competitive products do not provide, can satisfy unmet medical needs and offer, or, in the case of its products in development, have the potential to offer, improved performance to hospital businesses. In addition to these products and products in development, the Company has a portfolio of ten generic drugs, which it refers to as its acute care generic products, that the Company has the non-exclusive right to market in the United States. On July 2, 2015, the Company entered into a supply and distribution agreement with Sandoz Inc. (Sandoz), under which the Company granted Sandoz the exclusive right to sell in the United States an authorized generic of Angiomax (bivalirudin). The Company entered into the supply and distribution agreement as a result of the July 2, 2015 U.S. Court of Appeals for the Federal Circuit (Federal Circuit Court) ruling against the Company in its patent infringement litigation with Hospira, Inc. (Hospira) with respect to U.S. Patent No. 7,582,727 (‘727 patent) and U.S. Patent No. 7,598,343 (‘343 patent), covering a more consistent and improved Angiomax drug product and the processes by which it is made. In its July 2, 2015 ruling, the Federal Circuit Court held the ‘727 patent and the ‘343 patent invalid under the Section 102(b) “on sale” bar. On July 15, 2015, Hospira’s Abbreviated New Drug Applications (ANDA) for its generic versions of bivalirudin were approved by the FDA and Hospira began selling its generic versions of bivalirudin. On November 13, 2015, the Company’s petition for en banc review of the Federal Circuit Court's July 2, 2015 decision was granted and the Federal Circuit Court vacated its July 2, 2015 decision. On July 11, 2016, in an unanimous decision, the en banc Court ruled in the Company’s favor by finding that the ‘727 patent and the ‘343 patent were not invalid under the “on sale” bar. Notwithstanding the Federal Circuit Court’s November 13, 2015 and July 11, 2016 decisions, due to the Federal Circuit Court’s July 2, 2015 decision and the Company’s resulting entry into a supply and distribution agreement with Sandoz and Hospira’s entry into the market, Angiomax is now subject to generic competition with the authorized generic and Hospira’s generic bivalirudin products. On November 3, 2015, the Company announced that it was in the process of evaluating its operations with a goal of unlocking stockholder value. In particular, the Company stated its current intention was to explore strategies for optimizing its capital structure and liquidity position and to narrow the Company’s operational focus by strategically separating non-core businesses and products in order to generate non-dilutive cash and reduce associated cash burn and capital requirements. On February 1, 2016, the Company completed the sale of its hemostasis portfolio, consisting of PreveLeak (surgical sealant), Raplixa (fibrin sealant) and Recothrom Thrombin topical (Recombinant) (the Hemostasis Business), to wholly owned subsidiaries of Mallinckrodt plc (collectively, Mallinckrodt) pursuant to the purchase and sale agreement dated December 18, 2015 between the Company and Mallinckrodt. At completion of the sale, the Company received approximately $174.1 million in cash from Mallinckrodt, and may receive up to an additional $235.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of PreveLeak and Raplixa. As a result of the transaction, the Company accounted for the assets and liabilities of the Hemostasis Business as held for sale at December 31, 2015. As a result of the classification as held for sale, the Company recorded impairment charges of $133.3 million , including $24.5 million related to goodwill, to reduce the Hemostasis Business disposal group’s carrying value to its estimated fair value, less costs to sell for the year ended December 31, 2015. Further, the financial results of the Hemostasis Business held for sale were reclassified to discontinued operations for all periods presented in our condensed consolidated financial statements. See Note 16 , “Discontinued Operations,” for further details. On June 21, 2016, the Company completed the sale of three non-core cardiovascular products, Cleviprex (clevidipine) injectable emulsion, Kengreal (cangrelor) and rights to Argatroban for Injection (collectively the Non-Core ACC Products) and related assets, to Chiesi USA, Inc. (Chiesi USA) and its parent company Chiesi Farmaceutici S.p.A. (Chiesi) pursuant to the purchase and sale agreement dated May 9, 2016 by and among the Company, Chiesi and Chiesi USA. At the completion of the sale, the Company received approximately $263.8 million in cash, which included the value of product inventory, and may receive up to an additional $480.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of each of Cleviprex and Kengreal. See Note 15 , “Dispositions,” for further details.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, “Significant Accounting Policies,” in the notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (the 2015 Form 10-K). Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations, comprehensive loss , and cash flows for the periods presented. The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned and majority owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company records net loss (income) attributable to non-controlling interest in the Company’s condensed consolidated financial statements equal to the percentage of ownership interest retained in the respective operations by the non-controlling parties. The Company has no unconsolidated subsidiaries. The Company’s results of operations for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected from the Company for the entire fiscal year or any other quarter of the fiscal year ending December 31, 2016 . These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the 2015 Form 10-K. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs, expenses and accumulated other comprehensive (loss) income that are reported in the condensed consolidated financial statements and accompanying disclosures. Actual results may be different. Contingencies The Company may be, from time to time, a party to various disputes and claims arising from normal business activities. The Company continually assesses litigation to determine if an unfavorable outcome would lead to a probable loss or reasonably possible loss which could be estimated. In accordance with the guidance of the Financial Accounting Standards Board (FASB) on accounting for contingencies, the Company accrues for all contingencies at the earliest date at which the Company deems it probable that a liability has been incurred and the amount of such liability can be reasonably estimated. If the estimate of a probable loss is a range and no amount within the range is more likely than another, the Company accrues the minimum of the range. In the cases where the Company believes that a reasonably possible loss exists, the Company discloses the facts and circumstances of the litigation, including an estimable range, if possible. Contingent Purchase Price from Sale of Businesses Contingent purchase price from sale of businesses is measured at fair value utilizing the “income method,” which applies a probability weighting that considers the estimated future net sales of each of the respective products to determine the probability that each sale milestone will be met. These projections are based on factors such as relevant market size, patent protection, historical pricing of similar products and expected industry trends. In certain situations, the Company utilizes a risk adjusted revenue simulation model. In this simulation, the chances of achieving many different revenue levels are estimated and then adjusted to reflect the results of similar products and companies in the market to calculate the fair value of each milestone payment. The Company also considers qualitative factors such as development of competing drugs, regulatory developments and other qualitative factors. Once the year in which each of the sales milestones would be achieved is determined, the respective milestones are then discounted to the present value using an appropriate discount rate. The Company will recognize any increases in the carrying amount or impairments of the contingent purchase price if and when the milestones are achieved or determined to have no value. These increases in carrying amount or impairments would be recorded in selling, general and administrative expenses. Research and Development Research and development costs are expensed as incurred. Clinical study costs are accrued over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. Payments for a product license prior to regulatory approval of the product and payments for milestones achieved prior to regulatory approval of the product are expensed in the period incurred as research and development. Milestone payments made in connection with regulatory approvals are capitalized and amortized to cost of revenue over the remaining useful life of the asset. The Company performs research and development for U.S. government agencies under a cost-reimbursable contract in which the Company is reimbursed for direct costs incurred plus allowable indirect costs. The Company recognizes the reimbursements under research contracts when a contract has been executed, the contract price is fixed and determinable, delivery of services or products has occurred, and collection of the contract price is reasonably assured. The reimbursements are classified as an offset to research and development expenses. The Company recorded reductions of research and development expenses of approximately $3.4 million and $12.0 million for the three months ended September 30, 2016 and 2015 , respectively, and approximately $11.9 million and $17.5 million for the nine months ended September 30, 2016 and 2015 , respectively. Recent Accounting Pronouncements In May 2014, the FASB issued a comprehensive new revenue recognition Accounting Standards Update, “Revenue from Contracts with Customers (Topic 606)” (ASU No. 2014-09). ASU No. 2014-09 provides guidance to clarify the principles for recognizing revenue. This guidance includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. With the issuance of ASU No. 2015-14 in August 2015, the FASB deferred the effective date of the revenue recognition guidance to reporting periods beginning after December 15, 2017. Early adoption of the standard is permitted but not before the original effective date, which was for reporting periods beginning after December 15, 2016. With the issuance of ASU No. 2016-08 in March 2016, ASU No. 2016-10 in April 2016, and ASU No. 2016-11 and ASU No. 2016-12 in May 2016, the FASB has further amended guidance related to recording revenue on a gross versus a net basis and on identifying performance obligations and licensing. The FASB has also rescinded certain SEC guidance primarily related to ASC Topic 815, “Derivatives and Hedging,” and has issued additional improvements and practical expedients to the standard. The Company expects to adopt this guidance when effective and continues to evaluate the effect that the updated standard, as well as additional amendments, may have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Interpretation of Interest (Subtopic 835-35)” which simplifies the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. This will make the presentation of debt issuance costs consistent with the presentation of debt discounts or premiums. The guidance is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company adopted this guidance in the quarter ended March 31, 2016. As a result of adopting this guidance, the Company has reclassified $2.4 million and $9.0 million of debt issuance costs from noncurrent other assets to current convertible senior notes and noncurrent convertible senior notes, respectively, on its balance sheet as of December 31, 2015. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU No. 2016-01). ASU No. 2016-01 enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The new guidance affects all reporting organizations (whether public or private) that hold financial assets or owe financial liabilities. The ASU is effective for years beginning after December 15, 2017, including interim periods within those fiscal years. The Company expects to adopt this guidance when effective and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (ASU No. 2016-02). ASU No. 2016-02 will require organizations that lease assets with lease terms of more than 12 months to recognize assets and liabilities for the rights and obligations created by those leases on their balance sheets. The ASU will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. ASU No. 2016-02 will be effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company expects to adopt this guidance when effective and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU No. 2016-09). This ASU makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation, and the financial statement presentation of excess tax benefits or deficiencies. ASU No. 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. The Company does not believe that this guidance will have a material impact on the consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (ASU No. 2016-15). This guidance clarifies how certain cash receipts and payments should be presented in the statement of cash flows and is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The Company does not believe that this guidance will have an impact on the consolidated financial statements and related disclosures.

Stock Compensation Expense

Stock Compensation Expense	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation Expense	Stock Compensation Expense The Company recorded stock compensation expense of approximately $8.1 million and $7.6 million for the three months ended September 30, 2016 and 2015 , respectively, and approximately $24.7 million and $23.7 million for the nine months ended September 30, 2016 and 2015 , respectively. As of September 30, 2016 , there was approximately $36.9 million of total unrecognized compensation costs related to non-vested share-based employee compensation arrangements granted under the Company’s equity compensation plans. The Company expects to recognize those costs over a weighted average period of 1.47 years. During the nine months ended September 30, 2016 and 2015 , the Company issued a total of 1,322,091 and 2,984,380 , respectively, of shares of its common stock upon the exercise of stock options, grants of restricted stock, and purchases under the Company’s 2010 employee stock purchase plan (ESPP). Cash received from the exercise of stock options and purchases through the ESPP during the nine months ended September 30, 2016 and 2015 was $27.4 million and $89.7 million , respectively, and is included within the financing activities section of the accompanying condensed consolidated statements of cash flows.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	(Loss) Earnings Per Share The following table sets forth the computation of basic and diluted (loss) earnings per share for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands, except per share amounts) Net income (loss) from continuing operations attributable to The Medicines Company $ (86,354 ) $ (90,617 ) $ 5,126 $ (153,689 ) Income (loss) from discontinued operations, net of tax 96 (14,515 ) (1,390 ) 6,999 Net (loss) income attributable to The Medicines Company $ (86,258 ) $ (105,132 ) $ 3,736 $ (146,690 ) Weighted average common shares outstanding, basic 70,194 67,137 69,711 66,079 Plus: net effect of dilutive stock options, warrants, restricted common shares and shares issuable upon conversion of notes — — 3,209 — Weighted average common shares outstanding, diluted 70,194 67,137 72,920 66,079 Basic (loss) earnings per common share attributable to The Medicines Company: (Loss) earnings from continuing operations $ (1.23 ) $ (1.35 ) $ 0.07 $ (2.33 ) (Loss) earnings from discontinued operations — (0.22 ) (0.02 ) 0.11 Basic (loss) earnings per share $ (1.23 ) $ (1.57 ) $ 0.05 $ (2.22 ) Diluted earnings (loss) per common share attributable to The Medicines Company: (Loss) earnings from continuing operations $ (1.23 ) $ (1.35 ) $ 0.07 $ (2.33 ) (Loss) earnings from discontinued operations — (0.22 ) (0.02 ) 0.11 Diluted (loss) earnings per share $ (1.23 ) $ (1.57 ) $ 0.05 $ (2.22 ) Basic (loss) earnings per share is computed by dividing consolidated net (loss) income attributable to The Medicines Company by the weighted average number of shares of common stock outstanding during the period, excluding unvested restricted common shares. The potentially dilutive effect of the Company’s stock options and unvested restricted common stock on earnings per share is computed under the treasury stock method. The Company has either the obligation or the option to pay cash for the aggregate amount due upon conversion for all of the Company’s convertible senior notes. Since it is the Company’s current intent to settle in cash the principal amount of all of its convertible senior notes upon conversion, the potentially dilutive effect of such notes on earnings per share is computed under the treasury stock method. For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing the net income attributable to The Medicines Company by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting primarily of stock options, unvested restricted common stock, shares issuable upon conversion of convertible senior notes due 2017, 2022 and 2023 and stock purchase warrants. For periods of net loss, diluted loss per share is calculated similar to basic loss per share as the effect of including all potentially dilutive common share equivalents is anti-dilutive. Due to the periods of net loss from continuing operations attributable to The Medicines Company, the calculation of diluted loss per share for the three months ended September 30, 2016 excluded 3,930,938 and for the three and nine months ended September 30, 2015 excluded 4,816,237 and 2,677,921 , respectively, of potentially dilutive stock options, warrants, restricted common shares, and shares issuable upon conversion of the 2017 and 2022 Notes as their inclusion would have an anti-dilutive effect. For the nine months ended September 30, 2016 , options to 3,109,274 shares of common stock that could potentially dilute basic earnings per share were excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. For the nine months ended September 30, 2016 , there were 9,136 shares of unvested restricted stock excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive. In June 2016, the Company issued the 2023 Notes (see Note 10 , “Convertible Senior Notes”). The conversion rate for the 2023 Notes was initially, and remains, 20.4198 shares of the Company’s common stock per $1,000 principal amount of the 2023 Notes, which is equivalent to an initial conversion price of approximately $48.97 per share of the Company’s common stock. For the nine months ended September 30, 2016 , there was no dilutive effect of the 2023 Notes as the stock price did not exceed the conversion price. To minimize the impact of potential dilution upon conversion of the 2023 Notes, the Company entered into capped call transactions separate from the issuance of the 2023 Notes with certain counterparties. The capped calls have a strike price of $48.97 and a cap price of $64.68 and are exercisable when and if the 2023 Notes are converted. If upon conversion of the 2023 Notes, the price of the Company’s common stock is above the strike price of the capped calls, the counterparties will deliver shares of the Company’s common stock and/or cash with an aggregate value equal to the difference between the price of the Company’s common stock at the conversion date and the strike price, multiplied by the number of shares of the Company’s common stock related to the capped calls being exercised. The capped call transactions that are part of the 2023 Notes are not considered for purposes of calculating the total shares outstanding under the basic and diluted net income per share, as their effect would be anti-dilutive. In January 2015, the Company issued the 2022 Notes (see Note 10 , “Convertible Senior Notes”). The conversion rate for the 2022 Notes was initially, and remains, 29.8806 shares of the Company’s common stock per $1,000 principal amount of the 2022 Notes, which is equivalent to an initial conversion price of approximately $33.47 per share of the Company’s common stock. For the nine months ended September 30, 2016 , there were 647,645 shares of common stock issuable upon conversion of the 2022 Notes included in diluted shares. In June 2012, the Company issued the 2017 Notes (see Note 10 , “Convertible Senior Notes”). In connection with the issuance of the 2017 Notes, the Company entered into convertible note hedge transactions with respect to its common stock (2017 Note Hedges) with several of the initial purchasers of the 2017 Notes, their affiliates and other financial institutions (2017 Hedge Counterparties). The options that are part of the 2017 Note Hedges are not considered for purposes of calculating the total shares outstanding under the basic and diluted net income per share, as their effect would be anti-dilutive. The 2017 Note Hedges are expected generally to reduce the potential dilution with respect to shares of the Company’s common stock upon any conversion of the 2017 Notes in the event that the market price per share of the Company’s common stock, as measured under the terms of the 2017 Note Hedges, is greater than the strike price of the 2017 Note Hedges, which initially corresponded to the conversion price of the 2017 Notes and are subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the 2017 Notes. In June 2016, as part of the repurchase of $220.0 million in aggregate principal amount of the 2017 Notes, the Company settled the hedges related to the repurchased bonds. For the nine months ended September 30, 2016 , there were 781,558 shares of common stock issuable upon conversion of the 2017 Notes included in diluted shares. In addition, in connection with the 2017 Note Hedges, the Company entered into warrant transactions with the 2017 Hedge Counterparties, pursuant to which the Company sold warrants (2017 Warrants) to the Hedge Counterparties to purchase, subject to customary anti-dilution adjustments, up to two million shares of the Company’s common stock at a strike price of $34.20 per share. The 2017 Warrants will have a dilutive effect with respect to the Company’s common stock to the extent that the market price per share of the Company’s common stock, as measured under the terms of the 2017 Warrants, exceeds the applicable strike price of the 2017 Warrants. However, subject to certain conditions, the Company may elect to settle all of the 2017 Warrants in cash. In June 2016, as part of the repurchase of $220.0 million in aggregate principal amount of the 2017 Notes, the Company settled the warrants related to the repurchased bonds. For the nine months ended September 30, 2016 , there were 80,398 shares of common stock issuable upon the exercise of the 2017 Warrants included in diluted shares.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2016 and 2015 , the Company recorded a provision of $0.2 million and a benefit of $19.0 million for income taxes, respectively, based upon its estimated federal, state and foreign (loss)/income for the year. The worldwide effective income tax rates for the Company for the three months ended September 30, 2016 and 2015 were (0.2)% and 17.3% , respectively. This change in effective tax rates was primarily driven by the Company’s projected loss for the year 2016 and its inability to realize any benefit from this loss due to the establishment of a valuation allowance against substantial portions of its deferred tax assets during the fourth quarter of 2015. For the nine months ended September 30, 2016 and 2015 , the Company recorded a provision of $0.2 million and a benefit of $12.9 million for income taxes, respectively, based upon its estimated federal, state and foreign (loss)/income for the year. The worldwide effective income tax rates for the Company for the nine months ended September 30, 2016 and 2015 were 4.1% and 7.7% , respectively. This change in effective tax rates was primarily driven by the Company’s projected loss for the year 2016 and its inability to realize any benefit from this loss due to the establishment of a valuation allowance against substantial portions of its deferred tax assets during the fourth quarter of 2015. For the three and nine months ended September 30, 2016 , the Company’s provision for income taxes is the result of state tax minimums and estimated taxes due by profitable foreign subsidiaries. The Company considers all available evidence, both positive and negative, to determine whether, based on the weight of that evidence, a valuation allowance is needed to reduce its deferred tax assets to the amount that is more likely than not to be realized. The Company placed significant weight on the fact that the Company expects to be in a cumulative net book loss for the three-year period ending December 31, 2016 in recording valuation allowances on substantial portions of its deferred tax assets as of September 30, 2016 . The cumulative net book loss is primarily the result of Angiomax facing generic competition in the U.S. since the July 2, 2015 decision by the Federal Circuit Court which held the ‘727 patent and ‘343 patent invalid. The Company will continue to evaluate its ability to realize its deferred tax assets on a periodic basis and will adjust such amounts in light of changing facts and circumstances including, but not limited to, future projections of taxable income, tax legislation, rulings by relevant tax authorities, the progress of ongoing tax audits and the regulatory approval of products currently under development. Any additional changes to the valuation allowance recorded on deferred tax assets in the future would impact the Company’s income taxes.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2016
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities at the date of purchase of three months or less to be cash equivalents. At September 30, 2016 and December 31, 2015 , the Company had cash and cash equivalents of $600.4 million and $373.2 million , respectively, which consisted of cash of $544.3 million and $367.2 million and investments of $56.1 million and $6.0 million at September 30, 2016 and December 31, 2015 , respectively, in money market funds with original maturities of less than three months. Restricted Cash The Company had restricted cash of $5.1 million and $1.4 million at September 30, 2016 and December 31, 2015 , respectively, which included $1.0 million at both September 30, 2016 and December 31, 2015 for an outstanding letter of credit associated with the Company’s lease for the office space in Parsippany, New Jersey. The funds are invested in certificates of deposit. The letter of credit permits draws by the landlord to cure defaults by the Company. In addition, as a result of the acquisition of Targanta Therapeutics Corporation (Targanta) in 2009, the Company had restricted cash of $0.1 million at both September 30, 2016 and December 31, 2015 , in the form of a guaranteed investment certificate collateralizing an available credit facility. The Company also had restricted cash of $0.3 million at September 30, 2016 and December 31, 2015 , respectively, related to certain foreign tender requirements. At September 30, 2016 , there was $3.7 million reserved as a collateral requirement for VAT.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company applies a fair value framework in order to measure and disclose its financial assets and liabilities. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. The Company’s Level 1 asset consists of money market investments. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Fair values are determined by utilizing quoted prices for similar assets and liabilities in active markets or other market observable inputs such as interest rates and yield curves. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s Level 3 assets and liabilities consist of the contingent purchase prices associated with the Company’s dispositions and business combinations, respectively. The fair value of certain development or regulatory milestone based contingent purchase prices was determined in a discounted cash flow framework by probability weighting the future contractual payment with management's assessment of the likelihood of achieving these milestones and present valuing them using a risk-adjusted discount rate. Certain sales milestone based payments were determined in a discounted cash flow framework where risk-adjusted revenue scenarios were estimated using Monte Carlo simulation models to compute contractual payments which were present valued using a risk-adjusted discount rate. Financial assets measured at fair value on a nonrecurring basis As part of the purchase and sale agreement with Mallinckrodt, the Company may receive up to an additional $235.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of PreveLeak and Raplixa. In evaluating this information, considerable judgment is required to interpret the market data used to develop the assumptions and estimates. The Company utilized the “income method,” which applies a probability weighting that considers the estimated future net sales of each of the respective products to determine the probability that each sale milestone will be met. These projections were based on factors such as relevant market size, patent protection, historical pricing of similar products and expected industry trends. The Company anticipates payment from Malinckrodt on these sales milestones between 2017 and 2022 with probabilities of achievement ranging from 15% to 85% . The Company also considers qualitative factors such as development of competing drugs, regulatory developments and other qualitative factors. The Company determined the year in which it believes each of the sales milestones will be achieved. The respective milestones were then discounted to the present value using a discount rate of 10% . Any changes to fair value will be recorded if and when the sales milestones are achieved. The Company calculated the fair values of these contingent payments to be received from Mallinckrodt as $78.0 million , which are reflected as a contingent purchase price from sale of business on the condensed consolidated balance sheet at September 30, 2016 . The Company classified these contingent payments as Level 3 assets. Any increases in the carrying amount or impairments of sales milestones would be recognized in selling, general and administrative expenses if and when the milestones are achieved or determined to have no value. As part of the purchase and sale agreement with Chiesi USA and Chiesi, the Company may receive up to an additional $480.0 million in the aggregate from Chiesi following the achievement of certain specified calendar year net sales milestones with respect to net sales of each of Cleviprex and Kengreal. In evaluating this information, considerable judgment is required to interpret the market data used to develop the assumptions and estimates. The Company utilized a risk adjusted revenue simulation model. In this simulation, the chances of achieving many different revenue levels are estimated and then adjusted to reflect the results of similar products and companies in the market to calculate the fair value of each milestone payment. The breadth of all possible revenue scenarios is captured in an estimate of revenue volatility - a measure that can be estimated from performance of similar companies in the market. The Company estimated revenue volatility as the delivered asset volatility observed in comparable companies’ historical performance, where the delivering asset was based on operational leverage of the Company. Under each of these possible scenarios, different amounts of the sales-based milestone payments are calculated, and the average of the payments across a range of possible scenarios is deemed to be the expected value of the earn-out payments. The Company compared the estimated revenue volatility to the delivered asset volatility to arrive at adjusted revenue volatilities between 30% and 41% . The Company then discounted the expected future value of the earn-out payments using a range of discount rates between 3.1% and 6.9% . The Company calculated the fair values of these contingent payments to be received from Chiesi as $65.7 million , which are reflected as a contingent purchase price from sale of business on the condensed consolidated balance sheet at September 30, 2016 . The Company classified these contingent payments as Level 3 assets. Any increases in the carrying amount or impairments of sales milestones would be recognized in selling, general and administrative expenses if and when the milestones are achieved or determined to have no value. Financial assets and liabilities measured at fair value on a recurring basis Financial assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Except for the Company’s Level 2 liabilities which are discussed in Note 10 , “Convertible Senior Notes,” the following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015 , by level, within the fair value hierarchy: As of September 30, 2016 As of December 31, 2015 Assets and Liabilities Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of September 30, 2016 Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of December 31, 2015 (in thousands) Assets: Money market $ 56,097 $ — $ — $ 56,097 $ 6,030 $ — $ — $ 6,030 Total assets at fair value $ 56,097 $ — $ — $ 56,097 $ 6,030 $ — $ — $ 6,030 Liabilities: Contingent purchase price $ — $ — $ 129,410 $ 129,410 $ — $ — $ 123,757 $ 123,757 Total liabilities at fair value $ — $ — $ 129,410 $ 129,410 $ — $ — $ 123,757 $ 123,757 There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy that occurred during the nine months ended September 30, 2016 . Level 3 disclosures The Company measures contingent purchase price at fair value based on significant inputs not observable in the market, which causes it to be classified as a Level 3 measurement within the fair value hierarchy. The valuation of contingent purchase price uses assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Company assesses these assumptions and estimates on an on-going basis as additional data impacting the assumptions and estimates are obtained. Changes in the fair value of contingent purchase price related to updated assumptions and estimates are recognized within selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. The contingent purchase price may change significantly as additional data is obtained, impacting the Company’s assumptions regarding probabilities of successful achievement of related milestones used to estimate the fair value of the liability. In evaluating this information, considerable judgment is required to interpret the market data used to develop the assumptions and estimates. The estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company’s results of operations in future periods. The following table provides quantitative information associated with the fair value measurements of the Company’s Level 3 liabilities: Fair Value as of Valuation Technique Unobservable Input Range (Weighted Average) (in thousands) Targanta: Contingent purchase price $ 5,560 Probability-adjusted discounted cash flow Probability of success 20% Period in which milestone is expected to be achieved 2021 Discount rate 11% Incline: Contingent purchase price $ 2,050 Probability-adjusted discounted cash flow Probabilities of successes 5% Period in which milestones are expected to be achieved 2017 - 2019 Discount rate 18% Rempex: Contingent purchase price: Event-based milestones $ 88,900 Probability-adjusted discounted cash flow Probabilities of successes 18% - 95% (73%) Period in which milestones are expected to be achieved 2016 - 2024 Discount rate 5.6% - 8.4% Contingent purchase price: Sales-based milestones $ 17,900 Risk-adjusted revenue simulation Probabilities of successes 20% - 52% (48%) Period in which milestones are expected to be achieved 2018 - 2022 Discount rate 6.8% - 8.1% Annovation: Contingent purchase price $ 15,000 Probability-adjusted discounted cash flow Probabilities of successes 9% - 50% (33%) Period in which milestones are expected to be achieved 2017 - 2030 Discount rate 6.0% - 9.5% Fair Value as of Valuation Technique Unobservable Input Range (Weighted Average) (in thousands) Targanta: Contingent purchase price $ 5,857 Probability-adjusted discounted cash flow Probability of success 20% Period in which milestone is expected to be achieved 2020 Discount rate 11% Incline: Contingent purchase price $ 28,600 Probability-adjusted discounted cash flow Probabilities of successes 64% - 72% (67%) Period in which milestones are expected to be achieved 2017 - 2018 Discount rate 18% Rempex: Contingent purchase price: Event-based milestones $ 63,000 Probability-adjusted discounted cash flow Probabilities of successes 11% - 95% (56%) Period in which milestones are expected to be achieved 2016 - 2020 Discount rate 3.6% - 6.0% Contingent purchase price: Sales-based milestones $ 10,300 Risk-adjusted revenue simulation Probabilities of successes 11% - 63% (30%) Period in which milestones are expected to be achieved 2018 - 2022 Discount rate 5.5% - 6.7% Annovation: Contingent purchase price $ 16,000 Probability-adjusted discounted cash flow Probabilities of successes 8% - 50% (31%) Period in which milestones are expected to be achieved 2016 - 2030 Discount rate 4.1% - 8.2% The fair value of the contingent purchase price represents the fair value of the Company’s liability for all potential payments under the Company’s acquisition agreements for Targanta, Incline Therapeutics, Inc. (Incline), Rempex Pharmaceuticals, Inc. (Rempex) and Annovation BioPharma, Inc. (Annovation). The significant unobservable inputs used in the fair value measurement of the Company’s contingent purchase prices are the probabilities of successful achievement of development, regulatory, and sales milestones that would trigger payments under the Targanta, Incline, Rempex and Annovation agreements, probabilities as to the periods in which the milestones are expected to be achieved and discount rates. Significant changes in any of the probabilities of success or periods in which milestones will be achieved would result in a significantly higher or lower fair value measurement. The changes in fair value of the Company’s Level 3 contingent purchase price during the three and nine months ended September 30, 2016 and 2015 were as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands) Balance at beginning of period $ 118,571 $ 207,160 $ 123,757 $ 351,134 Fair value of contingent purchase price with respect to Annovation as of February 2, 2015 — — — 18,000 Payments (1,564 ) (3,600 ) (8,811 ) (179,250 ) Fair value adjustments to contingent purchase prices included in net income (loss) 12,403 747 14,464 14,423 Balance at end of period $ 129,410 $ 204,307 $ 129,410 $ 204,307 For the three and nine months ended September 30, 2016 and 2015 , changes in the carrying value of the contingent purchase price obligations resulted from changes in the fair value of the contingent consideration due to either the passage of time, changes in discount rates, changes in probabilities of success, or milestone payments. Additionally, for the nine months ended September 30, 2015 , changes in the carrying value of the contingent purchase price obligations included the initial estimate of the fair value of the contingent consideration related to the Company’s acquisition of Annovation. No other changes in valuation techniques or inputs occurred during the three and nine months ended September 30, 2016 and 2015 .

Inventory

Inventory	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventory	Inventory The major classes of inventory were as follows: September 30, December 31, (in thousands) Raw materials $ 41,561 $ 31,354 Work-in-progress 22,218 21,487 Finished goods 6,875 11,743 Total $ 70,654 $ 64,584 The Company reviews inventory, including inventory purchase commitments, for slow moving or obsolete amounts based on expected product sales volume and provides reserves against the carrying amount of inventory as appropriate. During the three month period ended September 30, 2016, upon review of expected future product sales volumes and the projected expiration of certain components of Ionsys, the Company recorded an $7.4 million reserve for potential inventory obsolescence. The Company projects that these components will reach their expiration date prior to the projected sales of the product. During the three-month period ended September 30, 2015 upon review of expected future product sales volumes, the Company recorded a $16.7 million inventory obsolescence charge 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. For the nine-month period ended September 30, 2015, charges for inventory obsolescence and for potential losses on future inventory purchase commitments due primarily to the loss of market exclusivity for Angiomax in the United States totaled $25.1 million and $15.7 million , respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill The following table sets forth the carrying amounts and accumulated amortization of the Company’s intangible assets: As of September 30, 2016 As of December 31, 2015 Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Amortization and Other Charges Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Other Charges Net Carrying Amount (in thousands) Amortizable intangible assets: Product licenses (1) 16.8 $ 30,000 $ (2,239 ) $ 27,761 $ 31,500 $ (7,869 ) $ 23,631 Developed product rights (2) 16.3 370,560 (30,251 ) 340,309 373,090 (14,121 ) 358,969 Total amortizable intangible assets 16.3 400,560 (32,490 ) 368,070 404,590 (21,990 ) 382,600 Intangible assets not subject to amortization: In-process research and development — $ 253,620 $ — $ 253,620 $ 253,620 $ — $ 253,620 Total intangible assets not subject to amortization — 253,620 — 253,620 253,620 — 253,620 Total intangible assets $ 654,180 $ (32,490 ) $ 621,690 $ 658,210 $ (21,990 ) $ 636,220 _______________________________________ (1) The Company amortizes intangible assets related to the product licenses over their expected useful lives. (2) The Company amortizes intangible assets related to developed product rights over the remaining life of the patents. In the second quarter of 2016, as part of the sale of the Non-Core ACC Products, the Company sold product licenses and developed product rights of $5.2 million . See Note 15 , “Dispositions,” for further details on the sale of the Non-Core ACC Products. The Company recognized amortization expense of approximately $6.5 million and $3.6 million for the three months ended September 30, 2016 and 2015 , respectively, and approximately $19.3 million and $10.7 million during the nine months ended September 30, 2016 and 2015 , respectively, related to its intangible assets. The Company expects amortization expense related to its intangible assets to be approximately $6.5 million for the last three months of 2016 . The Company expects annual amortization expense related to its intangible assets to be approximately $25.9 million , $25.9 million , $25.9 million , $25.9 million and $24.9 million for the years ending December 31, 2017 , 2018 , 2019 , 2020 and 2021 , respectively, with the balance of $233.1 million being amortized thereafter. The Company records amortization expense in cost of revenue in the accompanying condensed consolidated statements of operations. The changes in the carrying amount of goodwill for the nine months ended September 30, 2016 were as follows: September 30, 2016 (in thousands) Balance as of December 31, 2015 $ 289,441 Allocation of goodwill to the Non-Core ACC Products (33,812 ) Balance as of September 30, 2016 $ 255,629 In the second quarter of 2016, the Company allocated approximately $33.8 million of its goodwill to the sale of the Non-Core ACC Products. See Note 15 , “Dispositions,” for further details on the sale of the Non-Core ACC Products.

Convertible Senior Notes

Convertible Senior Notes	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Convertible Senior Notes	Convertible Senior Notes Convertible Senior Notes Due 2023 In June 2016, the Company issued, at par value, $402.5 million aggregate principal amount of 2.75% convertible senior notes due 2023 (the “2023 Notes”). The 2023 Notes bear cash interest at a rate of 2.75% per year, payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2017. The 2023 Notes will mature on July 15, 2023. The net proceeds to the Company from the offering were $390.8 million after deducting the initial purchasers’ discounts and commissions and the offering expenses payable by the Company. The 2023 Notes are governed by an indenture (the “2023 Notes Indenture”) with Wells Fargo Bank, National Association, a national banking association, as trustee (the “2023 Notes Trustee”). The 2023 Notes are senior unsecured obligations of the Company and will rank senior in right of payment to the Company’s future indebtedness that is expressly subordinated in right of payment to the 2023 Notes; equal in right of payment to the Company’s existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness and other liabilities (including trade payables) incurred by the Company’s subsidiaries. Holders may convert their 2023 Notes at their option at any time prior to the close of business on the business day immediately preceding April 15, 2023 only under the following circumstances: • during any calendar quarter commencing on or after September 30, 2016 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • during the five business day period after any five consecutive trading day period (the ‘‘measurement period’’) in which the trading price (as defined in the 2023 Notes Indenture) per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; • during any period after the Company has issued notice of redemption until the close of business on the scheduled trading day immediately preceding the relevant redemption date; or • upon the occurrence of specified corporate events. On or after April 15, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2023 Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination thereof, at the Company’s option, based upon a daily conversion value calculated on a proportionate basis for each trading day in a 50 trading day observation period (as more fully described in the 2023 Notes Indenture). The conversion rate for the 2023 Notes was initially, and remains, 20.4198 shares of the Company’s common stock per $1,000 principal amount of the 2023 Notes, which is equivalent to an initial conversion price of approximately $48.97 per share of the Company’s common stock. The Company may not redeem the 2023 Notes prior to July 15, 2020. The Company may redeem for cash all or any portion of the 2023 Notes, at its option, on or after July 15, 2020 if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect on the last trading day of, and for at least 19 other trading days (whether or not consecutive) during, any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the 2023 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No redemption date may be designated that falls on or after the 52 nd scheduled trading date prior to maturity. No sinking fund is provided for the 2023 Notes, which means that the Company is not required to redeem or retire the 2023 Notes periodically. If the Company undergoes a fundamental change (as defined in the 2023 Notes Indenture), subject to certain conditions, holders of the 2023 Notes may require the Company to repurchase for cash all or part of their 2023 Notes at a repurchase price equal to 100% of the principal amount of the 2023 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The 2023 Notes Indenture governing the 2023 Notes contains customary events of default with respect to the 2023 Notes, including that upon certain events of default (including the Company’s failure to make any payment of principal or interest on the 2023 Notes when due and payable) occurring and continuing, the 2023 Notes Trustee by notice to the Company, or the holders of at least 25% in principal amount of the outstanding 2023 Notes by notice to the Company and the 2023 Notes Trustee, may, and the 2023 Notes Trustee at the request of such holders (subject to the provisions of the 2023 Notes Indenture) shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the 2023 Notes to be due and payable. In case of certain events of bankruptcy, insolvency or reorganization, involving the Company or a significant subsidiary, 100% of the principal of and accrued and unpaid interest on the 2023 Notes will automatically become due and payable. Upon such a declaration of acceleration, such principal and accrued and unpaid interest, if any, will be due and payable immediately. In accounting for the issuance of the 2023 Notes, the Company separated the 2023 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the 2023 Notes as a whole. The excess of the principal amount of the liability component over its carrying amount, referred to as the debt discount, is amortized to interest expense over the seven -year term of the 2023 Notes. The equity component is not re-measured as long as it continues to meet the conditions for equity classification. The equity component related to the 2023 Notes is $101.0 million and is recorded in additional paid-in capital on the accompanying condensed consolidated balance sheet. In accounting for the transaction costs related to the issuance of the 2023 Notes, the Company allocated the total costs incurred to the liability and equity components of the 2023 Notes based on their relative values. Transaction costs attributable to the liability component are amortized to interest expense over the seven -year term of the 2023 Notes, and transaction costs attributable to the equity component are netted with the equity components in stockholders’ equity. Additionally, the Company initially recorded a net deferred tax liability of $37.3 million in connection with the 2023 Notes. The 2023 Notes consist of the following: Liability component September 30, 2016 December 31, 2015 (in thousands) Principal $ 402,500 $ — Less: Debt discount, net (1) (106,160 ) — Net carrying amount $ 296,340 $ — _______________________________________ (1) Included in the accompanying condensed consolidated balance sheets within convertible senior notes (due 2023) and amortized to interest expense over the remaining life of the 2023 Notes using the effective interest rate method. The fair value of the 2023 Notes was approximately $412.3 million as of September 30, 2016 . The Company estimates the fair value of its 2023 Notes utilizing market quotations for debt that have quoted prices in active markets. Since the 2023 Notes do not trade on a daily basis in an active market, the fair value estimates are based on market observable inputs based on borrowing rates currently available for debt with similar terms and average maturities, which are classified as Level 2 measurements within the fair value hierarchy. See Note 7 , “Fair Value Measurements,” for definitions of hierarchy levels. As of September 30, 2016 , the remaining contractual life of the 2023 Notes is approximately 6.8 years. The following table sets forth total interest expense recognized related to the 2023 Notes: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Contractual interest expense $ 2,777 $ — $ 3,381 $ — Amortization of debt discount 2,923 — 3,650 — Total $ 5,700 $ — $ 7,031 $ — Effective interest rate of the liability component 7.5 % 7.5 % Capped call transactions In June 2016, the Company entered into capped call transactions with certain counterparties of the 2023 Notes or their respective affiliates or other financial institutions (the “Option Counterparties”). The Company used approximately $33.9 million of the net proceeds from the offering to pay the cost of the capped call transactions, which is included as a net reduction to additional paid-in capital on the accompanying condensed consolidated balance sheet. The capped call transactions are expected to reduce the potential dilution with respect to shares of the Company’s common stock upon any conversion of the 2023 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted 2023 Notes, as the case may be, if the market price of the Company’s common stock is then greater than the strike price of the capped call transactions. Such reduction of potential dilution or offset of cash payments is subject to a cap based on the cap price of the capped call transactions. The cap price of the capped calls is currently $64.68 . For any conversions of the 2023 Notes prior to the close of business on the 52 nd scheduled trading day immediately preceding the stated maturity date of the 2023 Notes, including without limitation upon an acquisition of the Company or similar business combination, a corresponding portion of the capped calls will be terminated. Upon such termination, the portion of the capped calls being terminated will be settled at fair value (subject to certain limitations), as determined by the counterparties to the capped calls and no payments will be due from the Company to such counterparties. The capped calls expire on the earlier of (i) the last day on which any Convertible Securities remain outstanding and (ii) the second “Scheduled Trading Day” (as defined in the indenture) immediately preceding the “Maturity Date” (as defined in the indenture). Convertible Senior Notes Due 2022 In January 2015, the Company issued, at par value, $400 million aggregate principal amount of 2.5% convertible senior notes due 2022 (the “2022 Notes”). The 2022 Notes bear cash interest at a rate of 2.5% per year, payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2015. The 2022 Notes will mature on January 15, 2022. The net proceeds to the Company from the offering were $387.2 million after deducting the initial purchasers’ discounts and commissions and the offering expenses payable by the Company. The 2022 Notes are governed by an indenture (the “2022 Notes Indenture”) with Wells Fargo Bank, National Association, a national banking association, as trustee (the “2022 Notes Trustee”). The 2022 Notes are senior unsecured obligations of the Company and will rank senior in right of payment to the Company’s future indebtedness that is expressly subordinated in right of payment to the 2022 Notes; equal in right of payment to the Company’s existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness and other liabilities (including trade payables) incurred by the Company’s subsidiaries. Holders may convert their 2022 Notes at their option at any time prior to the close of business on the business day immediately preceding October 15, 2021 only under the following circumstances: • during any calendar quarter commencing on or after March 31, 2015 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • during the five business day period after any five consecutive trading day period (the measurement period) in which the trading price (as defined in the 2022 Notes Indenture) per $1,000 principal amount of 2022 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; • during any period after the Company has issued notice of redemption until the close of business on the scheduled trading day immediately preceding the relevant redemption date; or • upon the occurrence of specified corporate events. On or after October 15, 2021, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2022 Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay cash up to the aggregate principal amount of the 2022 Notes to be converted and deliver shares of its common stock in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of 2022 Notes being converted, subject to a daily share cap. The conversion rate for the 2022 Notes was initially, and remains, 29.8806 shares of the Company’s common stock per $1,000 principal amount of the 2022 Notes, which is equivalent to an initial conversion price of approximately $33.47 per share of the Company’s common stock. The Company may not redeem the 2022 Notes prior to January 15, 2019. The Company may redeem for cash all or any portion of the 2022 Notes, at its option, on or after January 15, 2019 if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect on the last trading day of, and for at least 19 other trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the 2022 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the 2022 Notes, which means that the Company is not required to redeem or retire the 2022 Notes periodically. If the Company undergoes a “fundamental change” (as defined in the Indenture governing the 2022 Notes Indenture), subject to certain conditions, holders of the 2022 Notes may require the Company to repurchase for cash all or part of their 2022 Notes at a repurchase price equal to 100% of the principal amount of the 2022 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The 2022 Notes Indenture contains customary events of default with respect to the 2022 Notes, including that upon certain events of default (including the Company’s failure to make any payment of principal or interest on the 2022 Notes when due and payable) occurring and continuing, the 2022 Notes Trustee by notice to the Company, or the holders of at least 25% in principal amount of the outstanding 2022 Notes by notice to the Company and the 2022 Notes Trustee, may, and the 2022 Notes Trustee at the request of such holders (subject to the provisions of the 2022 Notes Indenture) shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the 2022 Notes to be due and payable. In case of certain events of bankruptcy, insolvency or reorganization, involving the Company or a significant subsidiary, 100% of the principal of and accrued and unpaid interest on the 2022 Notes will automatically become due and payable. Upon such a declaration of acceleration, such principal and accrued and unpaid interest, if any, will be due and payable immediately. In accounting for the issuance of the 2022 Notes, the Company separated the 2022 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the 2022 Notes as a whole. The excess of the principal amount of the liability component over its carrying amount, referred to as the debt discount, is amortized to interest expense over the seven -year term of the 2022 Notes. The equity component is not re-measured as long as it continues to meet the conditions for equity classification. The equity component related to the 2022 Notes is $54.3 million and is recorded in additional paid-in capital on the accompanying condensed consolidated balance sheets. In accounting for the transaction costs related to the issuance of the 2022 Notes, the Company allocated the total costs incurred to the liability and equity components of the 2022 Notes based on their relative values. Transaction costs attributable to the liability component are amortized to interest expense over the seven -year term of the 2022 Notes, and transaction costs attributable to the equity component are netted with the equity components in stockholders’ equity. Additionally, the Company initially recorded a net deferred tax liability of $31.8 million in connection with the 2022 Notes. The 2022 Notes consist of the following: Liability component September 30, 2016 December 31, 2015 (in thousands) Principal $ 400,000 $ 400,000 Less: Debt discount, net (1) (78,850 ) (87,893 ) Net carrying amount $ 321,150 $ 312,107 _______________________________________ (1) Included in the accompanying condensed consolidated balance sheets within convertible senior notes (due 2022) and amortized to interest expense over the remaining life of the 2022 Notes using the effective interest rate method. The fair value of the 2022 Notes was approximately $350.9 million as of September 30, 2016 . The Company estimates the fair value of its 2022 Notes utilizing market quotations for debt that have quoted prices in active markets. Since the 2022 Notes do not trade on a daily basis in an active market, the fair value estimates are based on market observable inputs based on borrowing rates currently available for debt with similar terms and average maturities, which are classified as Level 2 measurements within the fair value hierarchy. See Note 7 , “Fair Value Measurements,” for definitions of hierarchy levels. As of September 30, 2016 , the remaining contractual life of the 2022 Notes is approximately 5.3 years. The following table sets forth total interest expense recognized related to the 2022 Notes: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Contractual interest expense $ 2,500 $ 2,505 $ 7,500 $ 7,139 Amortization of debt discount 3,078 2,878 9,043 8,053 Total $ 5,578 $ 5,383 $ 16,543 $ 15,192 Effective interest rate of the liability component 6.5 % 6.5 % 6.5 % 6.5 % Convertible Senior Notes Due 2017 In June 2012, the Company issued, at par value, $275.0 million aggregate principal amount of 1.375% convertible senior notes due June 1, 2017 (the “2017 Notes”). The 2017 Notes bear cash interest at a rate of 1.375% per year, payable semi-annually on June 1 and December 1 of each year, beginning on December 1, 2012. The 2017 Notes will mature on June 1, 2017. The net proceeds to the Company from the offering were $266.2 million after deducting the initial purchasers’ discounts and commissions and the offering expenses payable by the Company. In June 2016, the Company used approximately $323.2 million of the net proceeds of the 2023 Notes to repurchase $220.0 million in aggregate principal amount of the 2017 Notes in privately negotiated transactions effected through the initial purchasers of the 2017 Notes. As part of the repurchase of the 2017 Notes, the Company settled a proportionate amount of outstanding bond hedges and warrants related to the 2017 Notes for a net cash receipt of $12.6 million . The Company recorded a loss of $5.4 million on the extinguishment of debt in the accompanying condensed consolidated statements of operations during the nine months ended September 30, 2016 and accounted for the difference of $108.7 million between the consideration transferred to the holder and the fair value of the liability component of the 2017 Notes as a reduction of additional paid-in capital on the accompany condensed consolidated balance sheet. The 2017 Notes are governed by an indenture dated as of June 11, 2012 (the “2017 Notes Indenture”), between the Company, as issuer, and Wells Fargo Bank, National Association, a national banking association, as trustee (the “2017 Notes Trustee”). The 2017 Notes do not contain any financial or operating covenants or any restrictions on the payment of dividends, the incurrence of other indebtedness, or the issuance or repurchase of securities by the Company. The 2017 Notes are senior unsecured obligations of the Company and will rank senior in right of payment to the Company’s future indebtedness, if any, that is expressly subordinated in right of payment to the 2017 Notes and equal in right of payment to the Company’s existing and future unsecured indebtedness that is not so subordinated. The 2017 Notes are effectively junior in right of payment to any secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness and are structurally junior to all existing and future indebtedness and other liabilities (including trade payables) incurred by the Company’s subsidiaries. Holders may convert their 2017 Notes at their option at any time prior to the close of business on the business day immediately preceding March 1, 2017 only under the following circumstances: • during any calendar quarter commencing on or after September 1, 2012 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price (described below) on each applicable trading day; • during the five business day period after any five consecutive trading day period (the Measurement Period) in which the trading price (as defined in the 2017 Notes Indenture) per $1,000 principal amount of 2017 Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; or • upon the occurrence of specified corporate events, including a merger or a sale of all or substantially all of the Company’s assets. Since the third quarter of 2015, the conditional conversion feature of the 2017 Notes was triggered and the holders have been entitled to convert the notes into the Company's common stock through December 31, 2016. In any period when holders of the 2017 Notes are eligible to exercise their conversion option, the liability component related to these instruments is classified as current and the equity component related to these instruments is classified as mezzanine (temporary) equity, as the Company is required to settle the aggregate principal amount of the notes in cash. If in any future period the conversion threshold requirements of the 2017 Notes are not met, then the liability component of the instrument is classified as non-current and the difference between (1) the amount of cash deliverable upon conversion (i.e., par value of debt) and (2) the carrying value of the debt component will be reclassified from mezzanine equity to permanent equity, and will continue to be reported as permanent equity for any period in which the debt is not currently convertible. No holders of the 2017 Notes exercised their conversion option in 2015. An immaterial amount of 2017 Notes were converted and settled during the nine months ended September 30, 2016 . On or after March 1, 2017, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2017 Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay cash up to the aggregate principal amount of the 2017 Notes to be converted and deliver shares of the Company’s common stock in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2017 Notes being converted, subject to a daily share cap, as described in the 2017 Notes Indenture. Holders of 2017 Notes will not receive any additional cash payment or additional shares representing accrued and unpaid interest, if any, upon conversion of a 2017 Note, except in limited circumstances. Instead, accrued but unpaid interest will be deemed to be paid by the cash and shares, if any, of the Company’s common stock, together with any cash payment for any fractional share, paid or delivered, as the case may be, upon conversion of a 2017 Note. The conversion rate for the 2017 Notes was initially, and remains, 35.8038 shares of the Company’s common stock per $1,000 principal amount of the 2017 Notes, which is equivalent to an initial conversion price of $27.93 per share of the Company’s common stock. The conversion rate and the conversion price are subject to customary adjustments for certain events, including, but not limited to, the issuance of certain stock dividends on the Company’s common stock, the issuance of certain rights or warrants, subdivisions, combinations, distributions of capital stock, indebtedness, or assets, cash dividends and certain issuer tender or exchange offers, as described in the 2017 Notes Indenture. The Company may not redeem the 2017 Notes prior to maturity and is not required to redeem or retire the 2017 Notes periodically. However, upon the occurrence of a “fundamental change” (as defined in the 2017 Notes Indenture), subject to certain conditions, in lieu of converting their 2017 Notes, holders may require the Company to repurchase for cash all or part of their 2017 Notes at a repurchase price equal to 100% of the principal amount of the 2017 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. Following certain corporate transactions that constitute a change of control, the Company will increase the conversion rate for a holder who elects to convert the 2017 Notes in connection with such change of control in certain circumstances. The 2017 Notes Indenture contains customary events of default with respect to the 2017 Notes, including that upon certain events of default (including the Company’s failure to make any payment of principal or interest on the 2017 Notes when due and payable) occurring and continuing, the 2017 Notes Trustee by notice to the Company, or the holders of at least 25% in principal amount of the outstanding 2017 Notes by notice to the Company and the 2017 Notes Trustee, may, and the 2017 Notes Trustee at the request of such holders (subject to the provisions of the 2017 Notes Indenture) shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the 2017 Notes to be due and payable. In case of an event of default involving certain events of bankruptcy, insolvency or reorganization, involving the Company or a significant subsidiary, 100% of the principal of and accrued and unpaid interest on the 2017 Notes will automatically become due and payable. Upon a declaration of acceleration, such principal and accrued and unpaid interest, if any, will be due and payable immediately. In accounting for the issuance of the 2017 Notes, the Company separated the 2017 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the 2017 Notes as a whole. The excess of the principal amount of the liability component over its carrying amount, referred to as the debt discount, is amortized to interest expense over the five -year term of the 2017 Notes. The equity component is not re-measured as long as it continues to meet the conditions for equity classification. The equity component recorded at issuance related to the 2017 Notes was $55.7 million and was recorded in stockholders’ equity. After the repurchase of $220.0 million in aggregate principal amount of the 2017 Notes, the equity component remaining in stockholder’s equity is $11.1 million . In accounting for the transaction costs related to the issuance of the 2017 Notes, the Company allocated the total costs incurred to the liability and equity components of the 2017 Notes based on their relative values. Transaction costs attributable to the liability component are amortized to interest expense over the five -year term of the 2017 Notes, and transaction costs attributable to the equity component are netted with the equity components in stockholders’ equity. Additionally, the Company initially recorded a deferred tax asset of $1.5 million in connection with the 2017 Notes. After the repurchase of $220.0 million in aggregate principal amount of the 2017 Notes, the deferred tax asset remaining is approximately $0.3 million . The 2017 Notes consist of the following: Liability component September 30, 2016 December 31, 2015 (in thousands) Principal $ 55,000 $ 275,000 Less: Debt discount, net (1) (1,946 ) (19,527 ) Net carrying amount $ 53,054 $ 255,473 _______________________________________ (1) Included in the accompanying condensed consolidated balance sheets within convertible senior notes (due 2017) and amortized to interest expense over the remaining life of the 2017 Notes using the effective interest rate method. The fair value of the 2017 Notes was approximately $54.7 million as of September 30, 2016 . The Company estimates the fair value of its 2017 Notes utilizing market quotations for debt that have quoted prices in active markets. Since the 2017 Notes do not trade on a daily basis in an active market, the fair value estimates are based on market observable inputs based on borrowing rates currently available for debt with similar terms and average maturities, which are classified as Level 2 measurements within the fair value hierarchy. See Note 7 , “Fair Value Measurements,” for definitions of hierarchy levels. As of September 30, 2016 , the remaining contractual life of the 2017 Notes is approximately 0.7 years. The following table sets forth total interest expense recognized related to the 2017 Notes: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Contractual interest expense $ 189 $ 945 $ 1,912 $ 2,836 Amortization of debt discount 621 3,218 6,699 9,480 Total $ 810 $ 4,163 $ 8,611 $ 12,316 Effective interest rate of the liability component 6.02 % 6.02 % 6.02 % 6.02 % Note Hedges In June 2012, the Company paid an aggregate amount of $58.2 million for the 2017 Note Hedges, which was recorded as a reduction

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income The following tables provide a reconciliation of the components of accumulated other comprehensive (loss) income , net of tax, attributable to The Medicines Company for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, 2016 2015 Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total (in thousands) Balance at beginning of period $ (5,414 ) $ — $ (5,414 ) $ 4,433 $ 49 $ 4,482 Other comprehensive loss before reclassifications (70 ) — (70 ) (1,095 ) — (1,095 ) Amounts reclassified from accumulated other comprehensive income — — — — — — Total other comprehensive loss (70 ) — (70 ) (1,095 ) — (1,095 ) Balance at end of period $ (5,484 ) $ — $ (5,484 ) $ 3,338 $ 49 $ 3,387 Nine Months Ended September 30, 2016 2015 Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total (in thousands) Balance at beginning of period $ 3,924 $ 49 $ 3,973 $ 2,479 $ 49 $ 2,528 Other comprehensive income before reclassifications 208 — 208 859 — 859 Amounts reclassified from accumulated other comprehensive income (1) (2) (9,616 ) (49 ) (9,665 ) — — — Total other comprehensive (loss) income (9,408 ) (49 ) (9,457 ) 859 — 859 Balance at end of period $ (5,484 ) $ — $ (5,484 ) $ 3,338 $ 49 $ 3,387 _______________________________________ (1) Amounts were reclassified to other income in the accompanying condensed consolidated statements of operations. There is generally no tax impact related to foreign currency translation adjustments, as earnings are considered permanently reinvested. In addition, there were no material tax impacts related to unrealized gains or losses on available for sale securities in the periods presented. (2) See Note 16 , “Discontinued Operations,” for a discussion of this reclass of foreign currency translation adjustment.

Segment and Geographic Informat

Segment and Geographic Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information The Company manages its business and operations as one segment and is focused on advancing the treatment of acute and intensive care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace. The Company allocates resources and assesses financial performance on a consolidated basis. Revenues reported to date are derived primarily from sales of Angiomax in the United States, including royalty revenue from Sandoz. The geographic segment information provided below is classified based on the major geographic regions in which the Company operates. Long-lived assets are comprised of the Company’s noncurrent assets. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 ($ in thousands) Net revenues: United States $ 35,662 94.8 % $ 53,352 93.3 % $ 133,273 93.4 % $ 227,193 93.9 % Europe 1,726 4.6 % 3,419 6.0 % 7,544 5.3 % 12,885 5.3 % Rest of world 211 0.6 % 435 0.7 % 1,819 1.3 % 1,762 0.8 % Total net revenues $ 37,599 100.0 % $ 57,206 100.0 % $ 142,636 100.0 % $ 241,840 100.0 % September 30, 2016 December 31, 2015 ($ in thousands) Long-lived assets: United States $ 1,053,737 99.5 % $ 956,298 99.3 % Europe 5,525 0.5 % 6,301 0.7 % Total long-lived assets $ 1,059,262 100.0 % $ 962,599 100.0 %

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company may be, from time to time, a party to various disputes and claims arising from normal business activities. The Company accrues for loss contingencies when available information indicates that it is probable that a liability has been incurred and the amount of such loss can be reasonably estimated. In the cases where the Company believes that a reasonably possible loss exists, the Company discloses the facts and circumstances of the litigation, including an estimable range, if possible. Currently, the Company is party to the legal proceedings described in Part II, Item 1, Legal Proceedings, of this Quarterly Report on Form 10-Q, which include patent litigation matters and litigation related to a license agreement. The Company has assessed such legal proceedings and does not believe that it is probable that a liability has been incurred and the amount of such liability can be reasonably estimated. As a result, the Company has not recorded a loss contingency related to these legal proceedings. Particularly with respect to the litigation related to a Company license agreement, the Company is presently unable to predict the outcome of such lawsuit or to reasonably estimate the possible loss, or range of potential losses, if any, related to such lawsuit. While it is not possible to determine the outcome of the matters described in Part II, Item 1, Legal Proceedings, of this Quarterly Report on Form 10-Q, the Company believes it is possible that the resolution of all such matters could have a material adverse effect on our business, financial condition or results of operations.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring On June 21, 2016, in connection with the sale of the Non-Core ACC Products, the Company commenced implementation of a reorganization intended to improve efficiency and better align the Company’s costs and employment structure with its strategic plans. The reorganization includes a workforce reduction. As a result, the Company reduced its personnel by 162 employees. Upon signing appropriate release agreements, impacted employees were eligible to receive severance payments in specified amounts, health benefits, outplacement services, and an extension of the exercise period for all vested options up to one year from their respective termination date. The Company expects to incur charges of $18.3 million related to this reorganization in the aggregate. The Company has and will record these charges in cost of goods sold, research and development and selling, general and administrative expenses based on responsibilities of the impacted employees. The following table sets forth details regarding the activities described above during the nine months ended September 30, 2016 : Balance as of January 1, 2016 Expenses, Net Cash Noncash Balance as of September 30, 2016 (in thousands) Employee severance and other personnel benefits: 2016 Workforce reduction $ — $ 16,261 $ (11,095 ) $ (579 ) $ 4,587 Total $ — $ 16,261 $ (11,095 ) $ (579 ) $ 4,587

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions 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. At the completion of the sale, the Company received approximately $263.8 million in cash, which included the value of product inventory, and may receive up to an additional $480.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of each of Cleviprex and Kengreal. The following table presents the consideration received, major classes of assets sold and the gain recognized on the sale of the Non-Core ACC Products: (in thousands) Sale price: Cash $ 263,807 Contingent purchase price from sale of business 65,700 Total sale price 329,507 Assets: Inventory 2,184 Intangibles 5,210 Goodwill 33,812 Total assets sold 41,206 Gain on sale of business $ 288,301 The Company recognized a gain on sale of business of approximately $288.3 million for the nine months ended September 30, 2016 in continuing operations in the accompanying condensed consolidated statements of operations. Disposition related costs during 2016 of approximately $7.9 million for advisory, legal and regulatory fees incurred in connection with the sale of the Non-Core ACC Products were recorded in selling, general and administrative expenses. See Note 7, “Fair Value Measurements,” for further details on the contingent purchase price from sale of businesses. Discontinued Operations Sale of Hemostasis Business On February 1, 2016, the Company completed the sale of its Hemostasis Business to Mallinckrodt pursuant to the purchase and sale agreement dated December 18, 2015 between the Company and Mallinckrodt. At the completion of the sale, the Company received approximately $174.1 million in cash from Mallinckrodt, and may receive up to an additional $235.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of PreveLeak and Raplixa. As a result of the transaction, the Company accounted for the assets and liabilities of the Hemostasis Business that were sold as held for sale at December 31, 2015. As a result of the classification as held for sale, the Company recorded impairment charges of $133.3 million , including $24.5 million related to goodwill, to reduce the Hemostasis Business disposal group’s carrying value to its estimated fair value, less costs to sell for the year ended December 31, 2015. The determination of fair value for these assets was based on the best information available that resided within Level 3 of the fair value hierarchy, including internal cash flow estimates discounted at an appropriate interest rate. Financial results of the Hemostasis Business are presented as “ Income (loss) from discontinued operations, net of tax ” on the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 . Assets and liabilities of the Hemostasis Business to be disposed of are presented as “Current assets held for sale” and “Current liabilities held for sale” on the accompanying condensed consolidated balance sheet as of December 31, 2015 . The following table presents key financial results of the Hemostasis Business included in “ Income (loss) from discontinued operations, net of tax ” for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Net product revenues $ 28 $ 15,471 $ 78 $ 47,826 Operating expenses: Cost of product revenue (9 ) 37,781 1,695 63,224 Research and development (15 ) 3,018 104 6,871 Selling, general and administrative (44 ) (4,414 ) 634 (1,727 ) Total operating expenses (68 ) 36,385 2,433 68,368 Income (loss) from operations 96 (20,914 ) (2,355 ) (20,542 ) Gain from sale of business — — 1,004 — Other expense, net — (49 ) (39 ) (538 ) Income (loss) from discontinued operations before income taxes 96 (20,963 ) (1,390 ) (21,080 ) Benefit for income taxes — (6,448 ) — (28,079 ) Income (loss) from discontinued operations, net of tax $ 96 $ (14,515 ) $ (1,390 ) $ 6,999 Cumulative translation adjustment (“CTA”) gains or losses of foreign subsidiaries related to divested businesses are reclassified into income once the liquidation of the respective foreign subsidiaries is substantially complete. At the completion of the sale of the Hemostasis Business, the Company reclassified $9.6 million , net of tax, of CTA gains from accumulated comprehensive loss to the Company’s results of discontinued operations. Of this amount, $8.4 million was included in the impairment loss recorded to reduce the Hemostasis Business disposal group’s carrying value to its estimated fair value, less costs to sell as of December 31, 2015 and $1.2 million was included in “Gain from sale of business” for the nine months ended September 30, 2016 . Cost of product revenue for the three months ended September 30, 2015 included a charge of $25.8 million to reduce the carrying value of the product rights associated with PreveLeak to their estimated fair value as a result of a reduction in expected future cash flows. The following table presents the major classes of assets and liabilities at December 31, 2015 related to the Hemostasis Business which were reclassified as held for sale: December 31, (in thousands) Assets: Inventory $ 53,765 Prepaid expenses and other current assets 1,153 Fixed assets, net 1,913 Intangibles, net 374,779 Allowance for reduction of assets of business held for sale (108,773 ) Total assets held for sale $ 322,837 Liabilities: Contingent purchase price – current $ 28,600 Deferred tax liability 38,915 Total liabilities held for sale $ 67,515 Depreciation and amortization were ceased upon determination that the held for sale criteria were met in the fourth quarter of 2015. The significant cash flow items from discontinued operations for the nine months ended September 30, 2016 and 2015 were as follows: Nine Months Ended September 30, 2016 2015 (in thousands) Depreciation from discontinued operations $ — $ 258 Amortization from discontinued operations — 13,311 Gain on sale of business (1,004 ) — Asset impairment charges — 25,800 Change in contingent consideration obligation — (9,200 ) Proceeds from sale of business 174,068 — Capital expenditures — 703

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Dispositions 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. At the completion of the sale, the Company received approximately $263.8 million in cash, which included the value of product inventory, and may receive up to an additional $480.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of each of Cleviprex and Kengreal. The following table presents the consideration received, major classes of assets sold and the gain recognized on the sale of the Non-Core ACC Products: (in thousands) Sale price: Cash $ 263,807 Contingent purchase price from sale of business 65,700 Total sale price 329,507 Assets: Inventory 2,184 Intangibles 5,210 Goodwill 33,812 Total assets sold 41,206 Gain on sale of business $ 288,301 The Company recognized a gain on sale of business of approximately $288.3 million for the nine months ended September 30, 2016 in continuing operations in the accompanying condensed consolidated statements of operations. Disposition related costs during 2016 of approximately $7.9 million for advisory, legal and regulatory fees incurred in connection with the sale of the Non-Core ACC Products were recorded in selling, general and administrative expenses. See Note 7, “Fair Value Measurements,” for further details on the contingent purchase price from sale of businesses. Discontinued Operations Sale of Hemostasis Business On February 1, 2016, the Company completed the sale of its Hemostasis Business to Mallinckrodt pursuant to the purchase and sale agreement dated December 18, 2015 between the Company and Mallinckrodt. At the completion of the sale, the Company received approximately $174.1 million in cash from Mallinckrodt, and may receive up to an additional $235.0 million in the aggregate following the achievement of certain specified calendar year net sales milestones with respect to net sales of PreveLeak and Raplixa. As a result of the transaction, the Company accounted for the assets and liabilities of the Hemostasis Business that were sold as held for sale at December 31, 2015. As a result of the classification as held for sale, the Company recorded impairment charges of $133.3 million , including $24.5 million related to goodwill, to reduce the Hemostasis Business disposal group’s carrying value to its estimated fair value, less costs to sell for the year ended December 31, 2015. The determination of fair value for these assets was based on the best information available that resided within Level 3 of the fair value hierarchy, including internal cash flow estimates discounted at an appropriate interest rate. Financial results of the Hemostasis Business are presented as “ Income (loss) from discontinued operations, net of tax ” on the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 . Assets and liabilities of the Hemostasis Business to be disposed of are presented as “Current assets held for sale” and “Current liabilities held for sale” on the accompanying condensed consolidated balance sheet as of December 31, 2015 . The following table presents key financial results of the Hemostasis Business included in “ Income (loss) from discontinued operations, net of tax ” for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Net product revenues $ 28 $ 15,471 $ 78 $ 47,826 Operating expenses: Cost of product revenue (9 ) 37,781 1,695 63,224 Research and development (15 ) 3,018 104 6,871 Selling, general and administrative (44 ) (4,414 ) 634 (1,727 ) Total operating expenses (68 ) 36,385 2,433 68,368 Income (loss) from operations 96 (20,914 ) (2,355 ) (20,542 ) Gain from sale of business — — 1,004 — Other expense, net — (49 ) (39 ) (538 ) Income (loss) from discontinued operations before income taxes 96 (20,963 ) (1,390 ) (21,080 ) Benefit for income taxes — (6,448 ) — (28,079 ) Income (loss) from discontinued operations, net of tax $ 96 $ (14,515 ) $ (1,390 ) $ 6,999 Cumulative translation adjustment (“CTA”) gains or losses of foreign subsidiaries related to divested businesses are reclassified into income once the liquidation of the respective foreign subsidiaries is substantially complete. At the completion of the sale of the Hemostasis Business, the Company reclassified $9.6 million , net of tax, of CTA gains from accumulated comprehensive loss to the Company’s results of discontinued operations. Of this amount, $8.4 million was included in the impairment loss recorded to reduce the Hemostasis Business disposal group’s carrying value to its estimated fair value, less costs to sell as of December 31, 2015 and $1.2 million was included in “Gain from sale of business” for the nine months ended September 30, 2016 . Cost of product revenue for the three months ended September 30, 2015 included a charge of $25.8 million to reduce the carrying value of the product rights associated with PreveLeak to their estimated fair value as a result of a reduction in expected future cash flows. The following table presents the major classes of assets and liabilities at December 31, 2015 related to the Hemostasis Business which were reclassified as held for sale: December 31, (in thousands) Assets: Inventory $ 53,765 Prepaid expenses and other current assets 1,153 Fixed assets, net 1,913 Intangibles, net 374,779 Allowance for reduction of assets of business held for sale (108,773 ) Total assets held for sale $ 322,837 Liabilities: Contingent purchase price – current $ 28,600 Deferred tax liability 38,915 Total liabilities held for sale $ 67,515 Depreciation and amortization were ceased upon determination that the held for sale criteria were met in the fourth quarter of 2015. The significant cash flow items from discontinued operations for the nine months ended September 30, 2016 and 2015 were as follows: Nine Months Ended September 30, 2016 2015 (in thousands) Depreciation from discontinued operations $ — $ 258 Amortization from discontinued operations — 13,311 Gain on sale of business (1,004 ) — Asset impairment charges — 25,800 Change in contingent consideration obligation — (9,200 ) Proceeds from sale of business 174,068 — Capital expenditures — 703

Significant Accounting Polici23

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations, comprehensive loss , and cash flows for the periods presented. The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned and majority owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company records net loss (income) attributable to non-controlling interest in the Company’s condensed consolidated financial statements equal to the percentage of ownership interest retained in the respective operations by the non-controlling parties. The Company has no unconsolidated subsidiaries. The Company’s results of operations for the nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected from the Company for the entire fiscal year or any other quarter of the fiscal year ending December 31, 2016 . These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the 2015 Form 10-K.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs, expenses and accumulated other comprehensive (loss) income that are reported in the condensed consolidated financial statements and accompanying disclosures. Actual results may be different.
Contingencies	Contingencies The Company may be, from time to time, a party to various disputes and claims arising from normal business activities. The Company continually assesses litigation to determine if an unfavorable outcome would lead to a probable loss or reasonably possible loss which could be estimated. In accordance with the guidance of the Financial Accounting Standards Board (FASB) on accounting for contingencies, the Company accrues for all contingencies at the earliest date at which the Company deems it probable that a liability has been incurred and the amount of such liability can be reasonably estimated. If the estimate of a probable loss is a range and no amount within the range is more likely than another, the Company accrues the minimum of the range. In the cases where the Company believes that a reasonably possible loss exists, the Company discloses the facts and circumstances of the litigation, including an estimable range, if possible.
Contingent Purchase Price From Sale of Businesses	Contingent Purchase Price from Sale of Businesses Contingent purchase price from sale of businesses is measured at fair value utilizing the “income method,” which applies a probability weighting that considers the estimated future net sales of each of the respective products to determine the probability that each sale milestone will be met. These projections are based on factors such as relevant market size, patent protection, historical pricing of similar products and expected industry trends. In certain situations, the Company utilizes a risk adjusted revenue simulation model. In this simulation, the chances of achieving many different revenue levels are estimated and then adjusted to reflect the results of similar products and companies in the market to calculate the fair value of each milestone payment. The Company also considers qualitative factors such as development of competing drugs, regulatory developments and other qualitative factors. Once the year in which each of the sales milestones would be achieved is determined, the respective milestones are then discounted to the present value using an appropriate discount rate. The Company will recognize any increases in the carrying amount or impairments of the contingent purchase price if and when the milestones are achieved or determined to have no value. These increases in carrying amount or impairments would be recorded in selling, general and administrative expenses.
Research and Development	Research and Development Research and development costs are expensed as incurred. Clinical study costs are accrued over the service periods specified in the contracts and adjusted as necessary based upon an ongoing review of the level of effort and costs actually incurred. Payments for a product license prior to regulatory approval of the product and payments for milestones achieved prior to regulatory approval of the product are expensed in the period incurred as research and development. Milestone payments made in connection with regulatory approvals are capitalized and amortized to cost of revenue over the remaining useful life of the asset. The Company performs research and development for U.S. government agencies under a cost-reimbursable contract in which the Company is reimbursed for direct costs incurred plus allowable indirect costs. The Company recognizes the reimbursements under research contracts when a contract has been executed, the contract price is fixed and determinable, delivery of services or products has occurred, and collection of the contract price is reasonably assured. The reimbursements are classified as an offset to research and development expenses.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued a comprehensive new revenue recognition Accounting Standards Update, “Revenue from Contracts with Customers (Topic 606)” (ASU No. 2014-09). ASU No. 2014-09 provides guidance to clarify the principles for recognizing revenue. This guidance includes the required steps to achieve the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. With the issuance of ASU No. 2015-14 in August 2015, the FASB deferred the effective date of the revenue recognition guidance to reporting periods beginning after December 15, 2017. Early adoption of the standard is permitted but not before the original effective date, which was for reporting periods beginning after December 15, 2016. With the issuance of ASU No. 2016-08 in March 2016, ASU No. 2016-10 in April 2016, and ASU No. 2016-11 and ASU No. 2016-12 in May 2016, the FASB has further amended guidance related to recording revenue on a gross versus a net basis and on identifying performance obligations and licensing. The FASB has also rescinded certain SEC guidance primarily related to ASC Topic 815, “Derivatives and Hedging,” and has issued additional improvements and practical expedients to the standard. The Company expects to adopt this guidance when effective and continues to evaluate the effect that the updated standard, as well as additional amendments, may have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Interpretation of Interest (Subtopic 835-35)” which simplifies the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. This will make the presentation of debt issuance costs consistent with the presentation of debt discounts or premiums. The guidance is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company adopted this guidance in the quarter ended March 31, 2016. As a result of adopting this guidance, the Company has reclassified $2.4 million and $9.0 million of debt issuance costs from noncurrent other assets to current convertible senior notes and noncurrent convertible senior notes, respectively, on its balance sheet as of December 31, 2015. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU No. 2016-01). ASU No. 2016-01 enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The new guidance affects all reporting organizations (whether public or private) that hold financial assets or owe financial liabilities. The ASU is effective for years beginning after December 15, 2017, including interim periods within those fiscal years. The Company expects to adopt this guidance when effective and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (ASU No. 2016-02). ASU No. 2016-02 will require organizations that lease assets with lease terms of more than 12 months to recognize assets and liabilities for the rights and obligations created by those leases on their balance sheets. The ASU will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. ASU No. 2016-02 will be effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company expects to adopt this guidance when effective and is currently evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU No. 2016-09). This ASU makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation, and the financial statement presentation of excess tax benefits or deficiencies. ASU No. 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. The Company does not believe that this guidance will have a material impact on the consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (ASU No. 2016-15). This guidance clarifies how certain cash receipts and payments should be presented in the statement of cash flows and is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The Company does not believe that this guidance will have an impact on the consolidated financial statements and related disclosures.
Earnings Per Share	Basic (loss) earnings per share is computed by dividing consolidated net (loss) income attributable to The Medicines Company by the weighted average number of shares of common stock outstanding during the period, excluding unvested restricted common shares. The potentially dilutive effect of the Company’s stock options and unvested restricted common stock on earnings per share is computed under the treasury stock method. The Company has either the obligation or the option to pay cash for the aggregate amount due upon conversion for all of the Company’s convertible senior notes. Since it is the Company’s current intent to settle in cash the principal amount of all of its convertible senior notes upon conversion, the potentially dilutive effect of such notes on earnings per share is computed under the treasury stock method. For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing the net income attributable to The Medicines Company by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting primarily of stock options, unvested restricted common stock, shares issuable upon conversion of convertible senior notes due 2017, 2022 and 2023 and stock purchase warrants. For periods of net loss, diluted loss per share is calculated similar to basic loss per share as the effect of including all potentially dilutive common share equivalents is anti-dilutive.
Fair Value Measurements	The Company applies a fair value framework in order to measure and disclose its financial assets and liabilities. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. The Company’s Level 1 asset consists of money market investments. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Fair values are determined by utilizing quoted prices for similar assets and liabilities in active markets or other market observable inputs such as interest rates and yield curves. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s Level 3 assets and liabilities consist of the contingent purchase prices associated with the Company’s dispositions and business combinations, respectively. The fair value of certain development or regulatory milestone based contingent purchase prices was determined in a discounted cash flow framework by probability weighting the future contractual payment with management's assessment of the likelihood of achieving these milestones and present valuing them using a risk-adjusted discount rate. Certain sales milestone based payments were determined in a discounted cash flow framework where risk-adjusted revenue scenarios were estimated using Monte Carlo simulation models to compute contractual payments which were present valued using a risk-adjusted discount rate.
Segments	The Company manages its business and operations as one segment and is focused on advancing the treatment of acute and intensive care patients through the delivery of innovative, cost-effective medicines to the worldwide hospital marketplace.

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) Per Share	The following table sets forth the computation of basic and diluted (loss) earnings per share for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands, except per share amounts) Net income (loss) from continuing operations attributable to The Medicines Company $ (86,354 ) $ (90,617 ) $ 5,126 $ (153,689 ) Income (loss) from discontinued operations, net of tax 96 (14,515 ) (1,390 ) 6,999 Net (loss) income attributable to The Medicines Company $ (86,258 ) $ (105,132 ) $ 3,736 $ (146,690 ) Weighted average common shares outstanding, basic 70,194 67,137 69,711 66,079 Plus: net effect of dilutive stock options, warrants, restricted common shares and shares issuable upon conversion of notes — — 3,209 — Weighted average common shares outstanding, diluted 70,194 67,137 72,920 66,079 Basic (loss) earnings per common share attributable to The Medicines Company: (Loss) earnings from continuing operations $ (1.23 ) $ (1.35 ) $ 0.07 $ (2.33 ) (Loss) earnings from discontinued operations — (0.22 ) (0.02 ) 0.11 Basic (loss) earnings per share $ (1.23 ) $ (1.57 ) $ 0.05 $ (2.22 ) Diluted earnings (loss) per common share attributable to The Medicines Company: (Loss) earnings from continuing operations $ (1.23 ) $ (1.35 ) $ 0.07 $ (2.33 ) (Loss) earnings from discontinued operations — (0.22 ) (0.02 ) 0.11 Diluted (loss) earnings per share $ (1.23 ) $ (1.57 ) $ 0.05 $ (2.22 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Except for the Company’s Level 2 liabilities which are discussed in Note 10 , “Convertible Senior Notes,” the following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015 , by level, within the fair value hierarchy: As of September 30, 2016 As of December 31, 2015 Assets and Liabilities Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of September 30, 2016 Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance as of December 31, 2015 (in thousands) Assets: Money market $ 56,097 $ — $ — $ 56,097 $ 6,030 $ — $ — $ 6,030 Total assets at fair value $ 56,097 $ — $ — $ 56,097 $ 6,030 $ — $ — $ 6,030 Liabilities: Contingent purchase price $ — $ — $ 129,410 $ 129,410 $ — $ — $ 123,757 $ 123,757 Total liabilities at fair value $ — $ — $ 129,410 $ 129,410 $ — $ — $ 123,757 $ 123,757
Fair Value Inputs, Quantitative Information	The following table provides quantitative information associated with the fair value measurements of the Company’s Level 3 liabilities: Fair Value as of Valuation Technique Unobservable Input Range (Weighted Average) (in thousands) Targanta: Contingent purchase price $ 5,560 Probability-adjusted discounted cash flow Probability of success 20% Period in which milestone is expected to be achieved 2021 Discount rate 11% Incline: Contingent purchase price $ 2,050 Probability-adjusted discounted cash flow Probabilities of successes 5% Period in which milestones are expected to be achieved 2017 - 2019 Discount rate 18% Rempex: Contingent purchase price: Event-based milestones $ 88,900 Probability-adjusted discounted cash flow Probabilities of successes 18% - 95% (73%) Period in which milestones are expected to be achieved 2016 - 2024 Discount rate 5.6% - 8.4% Contingent purchase price: Sales-based milestones $ 17,900 Risk-adjusted revenue simulation Probabilities of successes 20% - 52% (48%) Period in which milestones are expected to be achieved 2018 - 2022 Discount rate 6.8% - 8.1% Annovation: Contingent purchase price $ 15,000 Probability-adjusted discounted cash flow Probabilities of successes 9% - 50% (33%) Period in which milestones are expected to be achieved 2017 - 2030 Discount rate 6.0% - 9.5% Fair Value as of Valuation Technique Unobservable Input Range (Weighted Average) (in thousands) Targanta: Contingent purchase price $ 5,857 Probability-adjusted discounted cash flow Probability of success 20% Period in which milestone is expected to be achieved 2020 Discount rate 11% Incline: Contingent purchase price $ 28,600 Probability-adjusted discounted cash flow Probabilities of successes 64% - 72% (67%) Period in which milestones are expected to be achieved 2017 - 2018 Discount rate 18% Rempex: Contingent purchase price: Event-based milestones $ 63,000 Probability-adjusted discounted cash flow Probabilities of successes 11% - 95% (56%) Period in which milestones are expected to be achieved 2016 - 2020 Discount rate 3.6% - 6.0% Contingent purchase price: Sales-based milestones $ 10,300 Risk-adjusted revenue simulation Probabilities of successes 11% - 63% (30%) Period in which milestones are expected to be achieved 2018 - 2022 Discount rate 5.5% - 6.7% Annovation: Contingent purchase price $ 16,000 Probability-adjusted discounted cash flow Probabilities of successes 8% - 50% (31%) Period in which milestones are expected to be achieved 2016 - 2030 Discount rate 4.1% - 8.2%
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The changes in fair value of the Company’s Level 3 contingent purchase price during the three and nine months ended September 30, 2016 and 2015 were as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 (in thousands) Balance at beginning of period $ 118,571 $ 207,160 $ 123,757 $ 351,134 Fair value of contingent purchase price with respect to Annovation as of February 2, 2015 — — — 18,000 Payments (1,564 ) (3,600 ) (8,811 ) (179,250 ) Fair value adjustments to contingent purchase prices included in net income (loss) 12,403 747 14,464 14,423 Balance at end of period $ 129,410 $ 204,307 $ 129,410 $ 204,307

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory	The major classes of inventory were as follows: September 30, December 31, (in thousands) Raw materials $ 41,561 $ 31,354 Work-in-progress 22,218 21,487 Finished goods 6,875 11,743 Total $ 70,654 $ 64,584

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets by Major Class	The following table sets forth the carrying amounts and accumulated amortization of the Company’s intangible assets: As of September 30, 2016 As of December 31, 2015 Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Amortization and Other Charges Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Other Charges Net Carrying Amount (in thousands) Amortizable intangible assets: Product licenses (1) 16.8 $ 30,000 $ (2,239 ) $ 27,761 $ 31,500 $ (7,869 ) $ 23,631 Developed product rights (2) 16.3 370,560 (30,251 ) 340,309 373,090 (14,121 ) 358,969 Total amortizable intangible assets 16.3 400,560 (32,490 ) 368,070 404,590 (21,990 ) 382,600 Intangible assets not subject to amortization: In-process research and development — $ 253,620 $ — $ 253,620 $ 253,620 $ — $ 253,620 Total intangible assets not subject to amortization — 253,620 — 253,620 253,620 — 253,620 Total intangible assets $ 654,180 $ (32,490 ) $ 621,690 $ 658,210 $ (21,990 ) $ 636,220 _______________________________________ (1) The Company amortizes intangible assets related to the product licenses over their expected useful lives. (2) The Company amortizes intangible assets related to developed product rights over the remaining life of the patents.
Schedule of Indefinite-lived Intangible Assets by Major Class	The following table sets forth the carrying amounts and accumulated amortization of the Company’s intangible assets: As of September 30, 2016 As of December 31, 2015 Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Amortization and Other Charges Net Carrying Amount Gross Carrying Amount Accumulated Amortization and Other Charges Net Carrying Amount (in thousands) Amortizable intangible assets: Product licenses (1) 16.8 $ 30,000 $ (2,239 ) $ 27,761 $ 31,500 $ (7,869 ) $ 23,631 Developed product rights (2) 16.3 370,560 (30,251 ) 340,309 373,090 (14,121 ) 358,969 Total amortizable intangible assets 16.3 400,560 (32,490 ) 368,070 404,590 (21,990 ) 382,600 Intangible assets not subject to amortization: In-process research and development — $ 253,620 $ — $ 253,620 $ 253,620 $ — $ 253,620 Total intangible assets not subject to amortization — 253,620 — 253,620 253,620 — 253,620 Total intangible assets $ 654,180 $ (32,490 ) $ 621,690 $ 658,210 $ (21,990 ) $ 636,220 _______________________________________ (1) The Company amortizes intangible assets related to the product licenses over their expected useful lives. (2) The Company amortizes intangible assets related to developed product rights over the remaining life of the patents.
Schedule of Goodwill	The changes in the carrying amount of goodwill for the nine months ended September 30, 2016 were as follows: September 30, 2016 (in thousands) Balance as of December 31, 2015 $ 289,441 Allocation of goodwill to the Non-Core ACC Products (33,812 ) Balance as of September 30, 2016 $ 255,629

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	The 2023 Notes consist of the following: Liability component September 30, 2016 December 31, 2015 (in thousands) Principal $ 402,500 $ — Less: Debt discount, net (1) (106,160 ) — Net carrying amount $ 296,340 $ — _______________________________________ (1) Included in the accompanying condensed consolidated balance sheets within convertible senior notes (due 2023) and amortized to interest expense over the remaining life of the 2023 Notes using the effective interest rate method. The 2022 Notes consist of the following: Liability component September 30, 2016 December 31, 2015 (in thousands) Principal $ 400,000 $ 400,000 Less: Debt discount, net (1) (78,850 ) (87,893 ) Net carrying amount $ 321,150 $ 312,107 _______________________________________ (1) Included in the accompanying condensed consolidated balance sheets within convertible senior notes (due 2022) and amortized to interest expense over the remaining life of the 2022 Notes using the effective interest rate method. The 2017 Notes consist of the following: Liability component September 30, 2016 December 31, 2015 (in thousands) Principal $ 55,000 $ 275,000 Less: Debt discount, net (1) (1,946 ) (19,527 ) Net carrying amount $ 53,054 $ 255,473 _______________________________________ (1) Included in the accompanying condensed consolidated balance sheets within convertible senior notes (due 2017) and amortized to interest expense over the remaining life of the 2017 Notes using the effective interest rate method.
Schedule of Interest Expense	The following table sets forth total interest expense recognized related to the 2022 Notes: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Contractual interest expense $ 2,500 $ 2,505 $ 7,500 $ 7,139 Amortization of debt discount 3,078 2,878 9,043 8,053 Total $ 5,578 $ 5,383 $ 16,543 $ 15,192 Effective interest rate of the liability component 6.5 % 6.5 % 6.5 % 6.5 % The following table sets forth total interest expense recognized related to the 2023 Notes: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Contractual interest expense $ 2,777 $ — $ 3,381 $ — Amortization of debt discount 2,923 — 3,650 — Total $ 5,700 $ — $ 7,031 $ — Effective interest rate of the liability component 7.5 % 7.5 % The following table sets forth total interest expense recognized related to the 2017 Notes: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Contractual interest expense $ 189 $ 945 $ 1,912 $ 2,836 Amortization of debt discount 621 3,218 6,699 9,480 Total $ 810 $ 4,163 $ 8,611 $ 12,316 Effective interest rate of the liability component 6.02 % 6.02 % 6.02 % 6.02 %

Accumulated Other Comprehensi29

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following tables provide a reconciliation of the components of accumulated other comprehensive (loss) income , net of tax, attributable to The Medicines Company for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, 2016 2015 Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total (in thousands) Balance at beginning of period $ (5,414 ) $ — $ (5,414 ) $ 4,433 $ 49 $ 4,482 Other comprehensive loss before reclassifications (70 ) — (70 ) (1,095 ) — (1,095 ) Amounts reclassified from accumulated other comprehensive income — — — — — — Total other comprehensive loss (70 ) — (70 ) (1,095 ) — (1,095 ) Balance at end of period $ (5,484 ) $ — $ (5,484 ) $ 3,338 $ 49 $ 3,387 Nine Months Ended September 30, 2016 2015 Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total Foreign currency translation adjustment Unrealized (gain) loss on available for sale securities Total (in thousands) Balance at beginning of period $ 3,924 $ 49 $ 3,973 $ 2,479 $ 49 $ 2,528 Other comprehensive income before reclassifications 208 — 208 859 — 859 Amounts reclassified from accumulated other comprehensive income (1) (2) (9,616 ) (49 ) (9,665 ) — — — Total other comprehensive (loss) income (9,408 ) (49 ) (9,457 ) 859 — 859 Balance at end of period $ (5,484 ) $ — $ (5,484 ) $ 3,338 $ 49 $ 3,387 _______________________________________ (1) Amounts were reclassified to other income in the accompanying condensed consolidated statements of operations. There is generally no tax impact related to foreign currency translation adjustments, as earnings are considered permanently reinvested. In addition, there were no material tax impacts related to unrealized gains or losses on available for sale securities in the periods presented. (2) See Note 16 , “Discontinued Operations,” for a discussion of this reclass of foreign currency translation adjustment.

Segment and Geographic Inform30

Segment and Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The geographic segment information provided below is classified based on the major geographic regions in which the Company operates. Long-lived assets are comprised of the Company’s noncurrent assets. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 ($ in thousands) Net revenues: United States $ 35,662 94.8 % $ 53,352 93.3 % $ 133,273 93.4 % $ 227,193 93.9 % Europe 1,726 4.6 % 3,419 6.0 % 7,544 5.3 % 12,885 5.3 % Rest of world 211 0.6 % 435 0.7 % 1,819 1.3 % 1,762 0.8 % Total net revenues $ 37,599 100.0 % $ 57,206 100.0 % $ 142,636 100.0 % $ 241,840 100.0 %
Reconciliation of Assets from Segment to Consolidated	September 30, 2016 December 31, 2015 ($ in thousands) Long-lived assets: United States $ 1,053,737 99.5 % $ 956,298 99.3 % Europe 5,525 0.5 % 6,301 0.7 % Total long-lived assets $ 1,059,262 100.0 % $ 962,599 100.0 %

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table sets forth details regarding the activities described above during the nine months ended September 30, 2016 : Balance as of January 1, 2016 Expenses, Net Cash Noncash Balance as of September 30, 2016 (in thousands) Employee severance and other personnel benefits: 2016 Workforce reduction $ — $ 16,261 $ (11,095 ) $ (579 ) $ 4,587 Total $ — $ 16,261 $ (11,095 ) $ (579 ) $ 4,587

Dispositions (Tables)

Dispositions (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Major Classes of Assets Sold and Gain Recognized	The following table presents the consideration received, major classes of assets sold and the gain recognized on the sale of the Non-Core ACC Products: (in thousands) Sale price: Cash $ 263,807 Contingent purchase price from sale of business 65,700 Total sale price 329,507 Assets: Inventory 2,184 Intangibles 5,210 Goodwill 33,812 Total assets sold 41,206 Gain on sale of business $ 288,301 The following table presents the major classes of assets and liabilities at December 31, 2015 related to the Hemostasis Business which were reclassified as held for sale: December 31, (in thousands) Assets: Inventory $ 53,765 Prepaid expenses and other current assets 1,153 Fixed assets, net 1,913 Intangibles, net 374,779 Allowance for reduction of assets of business held for sale (108,773 ) Total assets held for sale $ 322,837 Liabilities: Contingent purchase price – current $ 28,600 Deferred tax liability 38,915 Total liabilities held for sale $ 67,515 The following table presents key financial results of the Hemostasis Business included in “ Income (loss) from discontinued operations, net of tax ” for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Net product revenues $ 28 $ 15,471 $ 78 $ 47,826 Operating expenses: Cost of product revenue (9 ) 37,781 1,695 63,224 Research and development (15 ) 3,018 104 6,871 Selling, general and administrative (44 ) (4,414 ) 634 (1,727 ) Total operating expenses (68 ) 36,385 2,433 68,368 Income (loss) from operations 96 (20,914 ) (2,355 ) (20,542 ) Gain from sale of business — — 1,004 — Other expense, net — (49 ) (39 ) (538 ) Income (loss) from discontinued operations before income taxes 96 (20,963 ) (1,390 ) (21,080 ) Benefit for income taxes — (6,448 ) — (28,079 ) Income (loss) from discontinued operations, net of tax $ 96 $ (14,515 ) $ (1,390 ) $ 6,999 The significant cash flow items from discontinued operations for the nine months ended September 30, 2016 and 2015 were as follows: Nine Months Ended September 30, 2016 2015 (in thousands) Depreciation from discontinued operations $ — $ 258 Amortization from discontinued operations — 13,311 Gain on sale of business (1,004 ) — Asset impairment charges — 25,800 Change in contingent consideration obligation — (9,200 ) Proceeds from sale of business 174,068 — Capital expenditures — 703

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	The following table presents the consideration received, major classes of assets sold and the gain recognized on the sale of the Non-Core ACC Products: (in thousands) Sale price: Cash $ 263,807 Contingent purchase price from sale of business 65,700 Total sale price 329,507 Assets: Inventory 2,184 Intangibles 5,210 Goodwill 33,812 Total assets sold 41,206 Gain on sale of business $ 288,301 The following table presents the major classes of assets and liabilities at December 31, 2015 related to the Hemostasis Business which were reclassified as held for sale: December 31, (in thousands) Assets: Inventory $ 53,765 Prepaid expenses and other current assets 1,153 Fixed assets, net 1,913 Intangibles, net 374,779 Allowance for reduction of assets of business held for sale (108,773 ) Total assets held for sale $ 322,837 Liabilities: Contingent purchase price – current $ 28,600 Deferred tax liability 38,915 Total liabilities held for sale $ 67,515 The following table presents key financial results of the Hemostasis Business included in “ Income (loss) from discontinued operations, net of tax ” for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) Net product revenues $ 28 $ 15,471 $ 78 $ 47,826 Operating expenses: Cost of product revenue (9 ) 37,781 1,695 63,224 Research and development (15 ) 3,018 104 6,871 Selling, general and administrative (44 ) (4,414 ) 634 (1,727 ) Total operating expenses (68 ) 36,385 2,433 68,368 Income (loss) from operations 96 (20,914 ) (2,355 ) (20,542 ) Gain from sale of business — — 1,004 — Other expense, net — (49 ) (39 ) (538 ) Income (loss) from discontinued operations before income taxes 96 (20,963 ) (1,390 ) (21,080 ) Benefit for income taxes — (6,448 ) — (28,079 ) Income (loss) from discontinued operations, net of tax $ 96 $ (14,515 ) $ (1,390 ) $ 6,999 The significant cash flow items from discontinued operations for the nine months ended September 30, 2016 and 2015 were as follows: Nine Months Ended September 30, 2016 2015 (in thousands) Depreciation from discontinued operations $ — $ 258 Amortization from discontinued operations — 13,311 Gain on sale of business (1,004 ) — Asset impairment charges — 25,800 Change in contingent consideration obligation — (9,200 ) Proceeds from sale of business 174,068 — Capital expenditures — 703

Nature of Business (Details)

Nature of Business (Details) $ in Thousands	Jun. 21, 2016USD ($)product	Feb. 01, 2016USD ($)	Sep. 30, 2016USD ($)Drug	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of generic drugs | Drug			10
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses			$ 437,875	$ 0
Contingent purchase price from sale of businesses			143,700		$ 0
Impairment			0	29,413
Discontinued Operations, Disposed of by Sale [Member] | Hemostasis Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses		$ 174,100	174,068	$ 0
Contingent purchase price from sale of businesses		$ 235,000	78,000
Impairment					133,300
Goodwill impairment charge					$ 24,500
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Non-Core ACC Products [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses	$ 263,807
Contingent purchase price from sale of businesses	$ 480,000		$ 65,700
Number of products sold | product	3

Significant Accounting Polici35

Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Accounting Policies [Abstract]
Reimbursement by government	$ 3.4	$ 12	$ 11.9	$ 17.5
Accounting Standards Update 2015-03 [Member] | Current convertible senior notes [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs					$ 2.4
Accounting Standards Update 2015-03 [Member] | Noncurrent convertible senior notes [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs					$ 9

Stock Compensation Expense (Det

Stock Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Recorded share-based compensation expense	$ 8.1	$ 7.6	$ 24.7	$ 23.7
Total unrecognized compensation costs related to non-vested share-based compensation	$ 36.9		$ 36.9
Period for recognition			1 year 5 months 19 days
Common stock issued during period for exercise of stock options, restricted stock grants, and purchases under ESPP (shares)			1,322,091	2,984,380
Cash received from exercise of stock options and purchases through the ESPP			$ 27.4	$ 89.7

(Loss) Earnings Per Share (Narr

(Loss) Earnings Per Share (Narrative) (Details)	1 Months Ended			3 Months Ended		9 Months Ended
	Jun. 30, 2016USD ($)$ / shares	Jan. 31, 2015$ / shares	Jun. 30, 2012$ / sharesshares	Sep. 30, 2016shares	Sep. 30, 2015shares	Sep. 30, 2016shares	Sep. 30, 2015shares
Schedule of Earnings per Share Basic and Diluted [Line Items]
Antidilutive shares excluded from computation of diluted loss per share (shares)				3,930,938	4,816,237		2,677,921
Shares issuable upon conversion, included in diluted shares (in shares)				0	0	3,209,000	0
Convertible Senior Notes Due 2023 [Member] | Senior Notes [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Conversion ratio	0.0204198
Conversion price (USD per share) | $ / shares	$ 48.97
Convertible Senior Notes Due 2022 [Member] | Senior Notes [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Conversion ratio		0.0298806
Conversion price (USD per share) | $ / shares		$ 33.47
Shares issuable upon conversion, included in diluted shares (in shares)						647,645
Convertible Senior Notes Due 2017 [Member] | Senior Notes [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Conversion ratio			0.0358038
Conversion price (USD per share) | $ / shares			$ 27.93
Shares issuable upon conversion, included in diluted shares (in shares)						781,558
Debt, aggregate principal amount repurchased | $	$ 220,000,000
Convertible Senior Notes Due 2017 [Member] | Senior Notes [Member] | 2017 Warrants [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Shares issuable upon conversion, included in diluted shares (in shares)						80,398
Warrants for shares of common stock (shares)			2,000,000
Strike price, warrant (USD per share) | $ / shares			$ 34.20
Stock options [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Antidilutive shares excluded from computation of diluted loss per share (shares)						3,109,274
Unvested restricted stock [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Antidilutive shares excluded from computation of diluted loss per share (shares)						9,136
Call Option [Member] | Convertible Senior Notes Due 2023 [Member] | Senior Notes [Member]
Schedule of Earnings per Share Basic and Diluted [Line Items]
Strike price, capped calls (USD per share) | $ / shares	$ 48.97
Cap price (USD per share) | $ / shares	$ 64.68

(Loss) Earnings Per Share (Comp

(Loss) Earnings Per Share (Computation of Basic and Diluted Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net income (loss) from continuing operations attributable to The Medicines Company	$ (86,354)	$ (90,617)	$ 5,126	$ (153,689)
Income (loss) from discontinued operations, net of tax	96	(14,515)	(1,390)	6,999
Net (loss) income attributable to The Medicines Company	$ (86,258)	$ (105,132)	$ 3,736	$ (146,690)
Weighted average common shares outstanding, basic (shares)	70,194	67,137	69,711	66,079
Plus: net effect of dilutive stock options, warrants, restricted common shares and shares issuable upon conversion of notes	0	0	3,209	0
Weighted average common shares outstanding, diluted (shares)	70,194	67,137	72,920	66,079
Basic (loss) earnings per common share attributable to The Medicines Company:
(Loss) earnings from continuing operations (USD per share)	$ (1.23)	$ (1.35)	$ 0.07	$ (2.33)
(Loss) earnings from discontinued operations (USD per share)	0	(0.22)	(0.02)	0.11
Basic (loss) earnings per share (USD per share)	(1.23)	(1.57)	0.05	(2.22)
Diluted earnings (loss) per common share attributable to The Medicines Company:
(Loss) earnings from continuing operations (USD per share)	(1.23)	(1.35)	0.07	(2.33)
(Loss) earnings from discontinued operations (USD per share)	0	(0.22)	(0.02)	0.11
Diluted (loss) earnings per share (USD per share)	$ (1.23)	$ (1.57)	$ 0.05	$ (2.22)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
(Provision) benefit for income taxes	$ (163)	$ 19,001	$ (220)	$ 12,895
Effective income tax rate	(0.20%)	17.30%	4.10%	7.70%

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 600,356	$ 373,173	$ 508,808	$ 370,741
Cash	544,300	367,200
Cash equivalents - money market funds	56,100	6,000
Restricted cash	5,050	1,428
Restricted cash, outstanding letter of credit	1,000	1,000
Restricted cash, guaranteed investment certificate for collateralizing an available credit facility	100	100
Restricted cash, foreign tender requirements	300	$ 300
Restricted cash, collateral requirement for VAT	$ 3,700

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Liabilities:
Contingent purchase price	$ 89,610	$ 96,957
Fair Value, Measurements, Recurring [Member]
Assets:
Money market	56,097	6,030
Total assets at fair value	56,097	6,030
Liabilities:
Contingent purchase price	129,410	123,757
Total liabilities at fair value	129,410	123,757
Fair Value, Measurements, Recurring [Member] | Quoted Prices In Active Markets for Identical Assets (Level 1) [Member]
Assets:
Money market	56,097	6,030
Total assets at fair value	56,097	6,030
Liabilities:
Contingent purchase price	0	0
Total liabilities at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Money market	0	0
Total assets at fair value	0	0
Liabilities:
Contingent purchase price	0	0
Total liabilities at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Money market	0	0
Total assets at fair value	0	0
Liabilities:
Contingent purchase price	129,410	123,757
Total liabilities at fair value	$ 129,410	$ 123,757

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Inputs, Quantitative Information) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent purchase price	$ 89,610	$ 96,957
Targanta [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent purchase price	$ 5,560	$ 5,857
Targanta [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	20.00%	20.00%
Discount rate	11.00%	11.00%
Incline [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent purchase price	$ 2,050	$ 28,600
Incline [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	5.00%	67.00%
Discount rate	18.00%	18.00%
Incline [Member] | Minimum [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success		64.00%
Incline [Member] | Maximum [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success		72.00%
Rempex [Member] | Event-based milestones [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent purchase price	$ 88,900	$ 63,000
Rempex [Member] | Event-based milestones [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	73.00%	56.00%
Rempex [Member] | Event-based milestones [Member] | Minimum [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	18.00%	11.00%
Discount rate	5.60%	3.60%
Rempex [Member] | Event-based milestones [Member] | Maximum [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	95.00%	95.00%
Discount rate	8.40%	6.00%
Rempex [Member] | Sales-based Milestones [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent purchase price	$ 17,900	$ 10,300
Rempex [Member] | Sales-based Milestones [Member] | Risk-adjusted revenue simulation [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	48.00%	30.00%
Rempex [Member] | Sales-based Milestones [Member] | Minimum [Member] | Risk-adjusted revenue simulation [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	20.00%	11.00%
Discount rate	6.80%	5.50%
Rempex [Member] | Sales-based Milestones [Member] | Maximum [Member] | Risk-adjusted revenue simulation [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	52.00%	63.00%
Discount rate	8.10%	6.70%
Annovation [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Contingent purchase price	$ 15,000	$ 16,000
Annovation [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	33.00%	31.00%
Annovation [Member] | Minimum [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	9.00%	8.00%
Discount rate	6.00%	4.10%
Annovation [Member] | Maximum [Member] | Probability-adjusted discounted cash flow [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Probability of success	50.00%	50.00%
Discount rate	9.50%	8.20%

Fair Value Measurements (Level

Fair Value Measurements (Level 3 Contingent Purchase Price) (Details) - Contingent Purchase Price Liability [Member] - Fair Value, Measurements, Recurring [Member] - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 118,571	$ 207,160	$ 123,757	$ 351,134
Fair value of contingent purchase price with respect to Annovation as of February 2, 2015	0	0	0	18,000
Payments	(1,564)	(3,600)	(8,811)	(179,250)
Fair value adjustments to contingent purchase prices included in net income (loss)	12,403	747	14,464	14,423
Balance at end of period	$ 129,410	$ 204,307	$ 129,410	$ 204,307

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	Jun. 21, 2016	Feb. 01, 2016	Sep. 30, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent purchase price from sale of businesses			$ 143,700	$ 0
Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent purchase price from sale of businesses		$ 235,000	78,000
Discount rate		10.00%
Non-Core ACC Products [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent purchase price from sale of businesses	$ 480,000		$ 65,700
Minimum [Member] | Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Probability of achievement		15.00%
Minimum [Member] | Non-Core ACC Products [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue volatility rate	30.00%
Discount rate	3.10%
Maximum [Member] | Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Probability of achievement		85.00%
Maximum [Member] | Non-Core ACC Products [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue volatility rate	41.00%
Discount rate	6.90%

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 41,561			$ 31,354
Work-in-progress	22,218			21,487
Finished goods	6,875			11,743
Total	70,654			$ 64,584
Inventory write-down, obsolescence	$ 7,400	$ 16,700	$ 25,100
Inventory write-down, market conditions		$ 15,700	$ 15,700

Intangible Assets and Goodwil46

Intangible Assets and Goodwill (Intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Intangible Assets and Goodwill [Line Items]
Weighted Average Useful Life (years)	16 years 3 months 18 days
Amortizable intangible assets, Gross Carrying Amount	$ 400,560	$ 404,590
Amortizable intangible assets, Accumulated Amortization and Other Charges	(32,490)	(21,990)
Amortizable intangible assets, Net Carrying Amount	368,070	382,600
Intangible assets not subject to amortization, Gross Carrying Amount	253,620	253,620
Intangible Assets, Gross Carrying Amount	654,180	658,210
Intangible Assets, Net Carrying Amount	621,690	636,220
In-process research and development [Member]
Intangible Assets and Goodwill [Line Items]
Intangible assets not subject to amortization, Gross Carrying Amount	$ 253,620	253,620
Product licenses [Member]
Intangible Assets and Goodwill [Line Items]
Weighted Average Useful Life (years)	16 years 9 months 18 days
Amortizable intangible assets, Gross Carrying Amount	$ 30,000	31,500
Amortizable intangible assets, Accumulated Amortization and Other Charges	(2,239)	(7,869)
Amortizable intangible assets, Net Carrying Amount	$ 27,761	23,631
Developed product rights [Member]
Intangible Assets and Goodwill [Line Items]
Weighted Average Useful Life (years)	16 years 3 months 18 days
Amortizable intangible assets, Gross Carrying Amount	$ 370,560	373,090
Amortizable intangible assets, Accumulated Amortization and Other Charges	(30,251)	(14,121)
Amortizable intangible assets, Net Carrying Amount	$ 340,309	$ 358,969

Intangible Assets and Goodwil47

Intangible Assets and Goodwill (Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2016
Goodwill [Roll Forward]
Balance		$ 289,441
Allocation of goodwill to the Non-Core ACC Products	$ (33,800)	(33,812)
Balance		$ 255,629

Intangible Assets and Goodwil48

Intangible Assets and Goodwill (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 21, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 6,500		$ 3,600	$ 19,300	$ 10,700
Future amortization expense, remainder of fiscal year	6,500			6,500
Future amortization expense, 2017	25,900			25,900
Future amortization expense, 2018	25,900			25,900
Future amortization expense, 2019	25,900			25,900
Future amortization expense, 2020	25,900			25,900
Future amortization expense, 2021	24,900			24,900
Future amortization expense, after Year 2021	$ 233,100			233,100
Allocation of goodwill to the ACC Products		$ 33,800		$ 33,812
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Non-Core ACC Products [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets sold						$ 5,210
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Non-Core ACC Products [Member] | Developed product rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets sold		$ 5,200

Convertible Senior Notes (Due 2

Convertible Senior Notes (Due 2023) (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2016USD ($)d$ / shares	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Interest expense
Amortization of debt discount				$ 19,392,000	$ 17,532,000
Senior Notes [Member] | Convertible Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Principal	$ 402,500,000	$ 402,500,000		402,500,000		$ 0
Interest rate	2.75%
Proceeds from offering	$ 390,800,000
Trading period | d	20
Redemption consecutive trading period	30 days
Redemption stock price conversion threshold (greater than or equal to)	130.00%
Consecutive measurement period	5 days
Percent of trading price (less than)	98.00%
Trading period	50 days
Conversion ratio	0.0204198
Conversion price (USD per share) | $ / shares	$ 48.97
Redemption trading period	19 days
Percent of principal amount plus accrued and unpaid interest	100.00%
Debt default principal amount percentage	25.00%
Debt instrument, term	7 years
Carrying amount of equity component		101,000,000		101,000,000
Net deferred tax liabilities	$ 37,300,000
Liability component
Principal	402,500,000	402,500,000		402,500,000		0
Less: Debt discount, net		(106,160,000)		(106,160,000)		0
Net carrying amount		296,340,000		296,340,000		$ 0
Fair value of Notes		412,300,000		$ 412,300,000
Remaining contractual life				6 years 9 months 15 days
Interest expense
Contractual interest expense		2,777,000	$ 0	$ 3,381,000	0
Amortization of debt discount		2,923,000	0	3,650,000	0
Total		$ 5,700,000	$ 0	$ 7,031,000	$ 0
Effective interest rate of the liability component		7.50%		7.50%
Senior Notes [Member] | Convertible Senior Notes Due 2023 [Member] | Call Option [Member]
Interest expense
Payment of cost of capped call transactions	$ 33,900,000
Cap price (USD per share) | $ / shares	$ 64.68

Convertible Senior Notes (Due50

Convertible Senior Notes (Due 2022) (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2015USD ($)d$ / shares	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Interest expense
Amortization of debt discount				$ 19,392,000	$ 17,532,000
Senior Notes [Member] | Convertible Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Principal	$ 400,000,000	$ 400,000,000		400,000,000		$ 400,000,000
Interest rate	2.50%
Proceeds from offering	$ 387,200,000
Trading period | d	20
Redemption consecutive trading period	30 days
Redemption stock price conversion threshold (greater than or equal to)	130.00%
Consecutive measurement period	5 days
Percent of trading price (less than)	98.00%
Conversion ratio	0.0298806
Conversion price (USD per share) | $ / shares	$ 33.47
Redemption trading period	19 days
Percent of principal amount plus accrued and unpaid interest	100.00%
Debt default principal amount percentage	25.00%
Debt instrument, term	7 years
Carrying amount of equity component		54,300,000		54,300,000
Net deferred tax liabilities	$ 31,800,000
Liability component
Principal	$ 400,000,000	400,000,000		400,000,000		400,000,000
Less: Debt discount, net		(78,850,000)		(78,850,000)		(87,893,000)
Net carrying amount		321,150,000		321,150,000		$ 312,107,000
Fair value of Notes		350,900,000		$ 350,900,000
Remaining contractual life				5 years 3 months 15 days
Interest expense
Contractual interest expense		2,500,000	$ 2,505,000	$ 7,500,000	7,139,000
Amortization of debt discount		3,078,000	2,878,000	9,043,000	8,053,000
Total		$ 5,578,000	$ 5,383,000	$ 16,543,000	$ 15,192,000
Effective interest rate of the liability component		6.50%	6.50%	6.50%	6.50%

Convertible Senior Notes (Due51

Convertible Senior Notes (Due 2017) (Details)	1 Months Ended		3 Months Ended		9 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2012USD ($)d$ / shares	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt, repurchase amount					$ 323,225,000	$ 0
Loss on extinguishment of debt			$ 0	$ 0	5,380,000	0
Interest expense
Amortization of debt discount					19,392,000	17,532,000
Senior Notes [Member] | Convertible Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Principal		$ 275,000,000	55,000,000		55,000,000		$ 275,000,000
Interest rate		1.375%
Proceeds from offering		$ 266,200,000
Debt, repurchase amount	$ 323,200,000
Debt, aggregate principal amount repurchased	220,000,000
Cash receipt for settlement of outstanding bond hedges and warrants	12,600,000
Loss on extinguishment of debt					5,400,000
Reduction of additional paid-in capital for difference between consideration transferred and fair value of liability component	$ 108,700,000
Trading period | d		20
Trading period		30 days
Redemption stock price conversion threshold (greater than or equal to)		130.00%
Consecutive measurement period		5 days
Percent of trading price (less than)		98.00%
Conversion ratio		0.0358038
Conversion price (USD per share) | $ / shares		$ 27.93
Percent of principal amount plus accrued and unpaid interest		100.00%
Debt default principal amount percentage		25.00%
Debt instrument, term		5 years
Equity component recorded at issuance		$ 55,700,000
Carrying amount of equity component			11,100,000		11,100,000
Deferred tax asset, hedging		1,500,000	300,000		300,000
Liability component
Principal		$ 275,000,000	55,000,000		55,000,000		275,000,000
Less: Debt discount, net			(1,946,000)		(1,946,000)		(19,527,000)
Net carrying amount			53,054,000		53,054,000		$ 255,473,000
Fair value of Notes			54,700,000		$ 54,700,000
Remaining contractual life					8 months 1 day
Interest expense
Contractual interest expense			189,000	945,000	$ 1,912,000	2,836,000
Amortization of debt discount			621,000	3,218,000	6,699,000	9,480,000
Total			$ 810,000	$ 4,163,000	$ 8,611,000	$ 12,316,000
Effective interest rate of the liability component			6.02%	6.02%	6.02%	6.02%

Convertible Senior Notes (Note

Convertible Senior Notes (Note Hedges) (Details) - USD ($) shares in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Jun. 30, 2012
Debt Instrument [Line Items]
Proceeds from settlement of bond hedges related to convertible senior notes	$ 100,459,000	$ 0
Senior Notes [Member] | Convertible Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Debt, aggregate principal amount repurchased			$ 220,000,000
Interest Rate Contract [Member]
Debt Instrument [Line Items]
Aggregate amount of hedge				$ 58,200,000
Proceeds from settlement of bond hedges related to convertible senior notes	$ 100,500,000
Shares exercisable upon conversion				2

Convertible Senior Notes (Warra

Convertible Senior Notes (Warrants) (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	9 Months Ended
	Jun. 30, 2012	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Debt Instrument [Line Items]
Settlement of warrants		$ 87,874,000	$ 0
2017 Warrants [Member]
Debt Instrument [Line Items]
Proceeds from sale of warrants	$ 38,400,000
Settlement of warrants		$ 87,900,000
Shares exercisable upon conversion	2
Exercise price of warrants (in dollars per share)	$ 34.20
Senior Notes [Member] | Convertible Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Debt, aggregate principal amount repurchased				$ 220,000,000

Accumulated Other Comprehensi54

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Loss [Roll Forward]
Balance at beginning of period			$ 731,774
Other comprehensive income before reclassifications, subtotal	$ (70)	$ (1,095)	208	$ 859
Amounts reclassified from accumulated other comprehensive income	0	0	(9,665)	0
Other comprehensive (loss) income	(70)	(1,095)	(9,457)	859
Balance at end of period	761,405		761,405
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Balance at beginning of period	(5,414)	4,482	3,973	2,528
Balance at end of period	(5,484)	3,387	(5,484)	3,387
Foreign currency translation adjustment [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Balance at beginning of period	(5,414)	4,433	3,924	2,479
Other comprehensive income before reclassifications, subtotal	(70)	(1,095)	208	859
Amounts reclassified from accumulated other comprehensive income	0	0	(9,616)	0
Other comprehensive (loss) income	(70)	(1,095)	(9,408)	859
Balance at end of period	(5,484)	3,338	(5,484)	3,338
Unrealized (gain) loss on available for sale securities [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Balance at beginning of period	0	49	49	49
Other comprehensive income before reclassifications, subtotal	0	0	0	0
Amounts reclassified from accumulated other comprehensive income	0	0	(49)	0
Other comprehensive (loss) income	0	0	(49)	0
Balance at end of period	$ 0	$ 49	$ 0	$ 49

Segment and Geographic Inform55

Segment and Geographic Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments | segment			1
Net revenue	$ 37,599	$ 57,206	$ 142,636	$ 241,840
Percentage of revenue by geographic segments	100.00%	100.00%	100.00%	100.00%
Long-lived assets	$ 1,059,262		$ 1,059,262		$ 962,599
Percentage of long-lived assets by geographic segments	100.00%		100.00%		100.00%
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 35,662	$ 53,352	$ 133,273	$ 227,193
Percentage of revenue by geographic segments	94.80%	93.30%	93.40%	93.90%
Long-lived assets	$ 1,053,737		$ 1,053,737		$ 956,298
Percentage of long-lived assets by geographic segments	99.50%		99.50%		99.30%
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 1,726	$ 3,419	$ 7,544	$ 12,885
Percentage of revenue by geographic segments	4.60%	6.00%	5.30%	5.30%
Long-lived assets	$ 5,525		$ 5,525		$ 6,301
Percentage of long-lived assets by geographic segments	0.50%		0.50%		0.70%
Rest of world [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 211	$ 435	$ 1,819	$ 1,762
Percentage of revenue by geographic segments	0.60%	0.70%	1.30%	0.80%

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) - Reorganization Plan 2016 [Member] $ in Millions	Jun. 21, 2016USD ($)Employee
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | Employee	162
Options exercise term	1 year
Expected restructuring charges | $	$ 18.3

Restructuring (Restructuring Re

Restructuring (Restructuring Reserve) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Restructuring Reserve [Roll Forward]
Balance	$ 0
Expenses, Net	16,261
Cash	(11,095)
Noncash	(579)
Balance	4,587
Employee Severance [Member] | Reorganization Plan 2016 [Member]
Restructuring Reserve [Roll Forward]
Balance	0
Expenses, Net	16,261
Cash	(11,095)
Noncash	(579)
Balance	$ 4,587

Dispositions (Major Classes of

Dispositions (Major Classes of Assets Sold and Gain Recognized) (Details) - USD ($) $ in Thousands	Jun. 21, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Sale price:
Cash				$ 437,875	$ 0
Assets:
Gain on sale of business		$ 0	$ 0	288,301	$ 0
Non-Core ACC Products [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Sale price:
Cash	$ 263,807
Contingent purchase price from sale of business	65,700
Total sale price	329,507
Assets:
Inventory	2,184
Intangibles	5,210
Goodwill	33,812
Total assets held for sale/sold	41,206
Gain on sale of business	$ 288,301			$ 288,300

Dispositions (Narrative) (Detai

Dispositions (Narrative) (Details) - USD ($) $ in Thousands	Jun. 21, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses				$ 437,875	$ 0
Potential contingent proceeds from sale		$ 143,700		143,700		$ 0
Gain on sale of assets		0	$ 0	288,301	$ 0
Disposition related costs				7,900
Non-Core ACC Products [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses	$ 263,807
Potential contingent proceeds from sale	480,000	$ 65,700		65,700
Gain on sale of assets	$ 288,301			$ 288,300

Discontinued Operations (Key Fi

Discontinued Operations (Key Financial Results and Assets and Liabilities Held for Sale) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Income (loss) from discontinued operations, net of tax	$ 96	$ (14,515)	$ (1,390)	$ 6,999
Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net product revenues	28	15,471	78	47,826
Cost of product revenue	(9)	37,781	1,695	63,224
Research and development	(15)	3,018	104	6,871
Selling, general and administrative	(44)	(4,414)	634	(1,727)
Total operating expenses	(68)	36,385	2,433	68,368
Income (loss) from operations	96	(20,914)	(2,355)	(20,542)
Gain from sale of business	0	0	1,004	0
Other expense, net	0	(49)	(39)	(538)
Income (loss) from discontinued operations before income taxes	96	(20,963)	(1,390)	(21,080)
Benefit for income taxes	0	(6,448)	0	(28,079)
Income (loss) from discontinued operations, net of tax	$ 96	$ (14,515)	$ (1,390)	$ 6,999
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Inventory					$ 53,765
Prepaid expenses and other current assets					1,153
Fixed assets, net					1,913
Intangibles, net					374,779
Allowance for reduction of assets of business held for sale					(108,773)
Total assets held for sale/sold					322,837
Contingent purchase price – current					28,600
Deferred tax liability					38,915
Total liabilities held for sale					$ 67,515

Discontinued Operations (Signif

Discontinued Operations (Significant Cash Flow Items From Discontinued Operations) (Details) - USD ($) $ in Thousands	Feb. 01, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business				$ 437,875	$ 0
Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation from discontinued operations				0	258
Amortization from discontinued operations				0	13,311
Gain on sale of business		$ 0	$ 0	(1,004)	0
Asset impairment charges				0	25,800
Change in contingent consideration obligation				0	(9,200)
Proceeds from sale of business	$ 174,100			174,068	0
Capital expenditures				$ 0	$ 703

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands	Feb. 01, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses				$ 437,875	$ 0
Contingent purchase price from sale of businesses		$ 143,700		143,700		$ 0
Asset impairment charges				0	29,413
Amounts reclassified from accumulated other comprehensive income		0	$ 0	9,665	0
Cost of product revenue [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of intangible assets			25,800
Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses	$ 174,100			174,068	0
Contingent purchase price from sale of businesses	235,000	78,000		78,000
Asset impairment charges						133,300
Goodwill impairment charge						$ 24,500
Foreign currency translation adjustment [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amounts reclassified from accumulated other comprehensive income		$ 0	$ 0	9,616	$ 0
Foreign currency translation adjustment [Member] | Impairment loss [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amounts reclassified from accumulated other comprehensive income				8,400
Foreign currency translation adjustment [Member] | Gain from sale of business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amounts reclassified from accumulated other comprehensive income				$ 1,200
Foreign currency translation adjustment [Member] | Hemostasis Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amounts reclassified from accumulated other comprehensive income	$ 9,600