10-Q
MEDICINES CO /DE filed this form 10-Q on 9 May 2018
- velhartice.info

Co-promotion and License Income:

 
Three Months Ended March 31,
 
2018
 
2017
 
Change $
 
Change %
 
(in thousands)
 
 
Co-promotion and license income
$
228

 
$
757

 
$
(529
)
 
(69.9
)%

Co-promotion and license income decreased by $0.5 million during the three months ended March 31, 2018 as compared to the three months ended March 31, 2017. In the three months ended March 31, 2017, license income included our agreement with SymBio Pharmaceuticals Ltd., or SymBio, which was terminated in the fourth quarter of 2017. Co-promotion and license income includes license income of $0.2 million and $0.2 million for the three months ended March 31, 2018 and 2017, respectively, under our collaboration agreement with SciClone Pharmaceuticals.

Loss on Short-term Investment:

 
Three Months Ended March 31,
 
2018
 
2017
 
Change $
 
Change %
 
(in thousands)
 
 
Loss on short-term investment
$
(29,989
)
 
$

 
$
(29,989
)
 
100.0
%

Loss on short-term investment of $30.0 million during the three months ended March 31, 2018 relates to the non-cash change in fair value associated with our common stock ownership in Melinta. In connection with the sale of our infectious disease business, we received 3,313,702 shares of Melinta common stock having a market value, based on Melinta's closing share price on January 5, 2018, of approximately $54.5 million. The loss on short-term investments was derived based on the market value of Melinta’s common stock as of March 31, 2018.

Interest Expense:
 
Three Months Ended March 31,
 
 
2018
 
2017
 
Change $
 
Change %
 
 
(in thousands)
 
 
 
Interest expense
$
12,077

 
$
12,422

 
$
(345
)
 
(2.8
)%
 

During the three months ended March 31, 2018, we recorded approximately $12.1 million in interest expense related to the 2022 Notes and 2023 Notes as compared to $12.4 million in interest expense related to the 2017 Notes and 2022 Notes during the three months ended March 31, 2017. The decrease in interest expense in the three months ended March 31, 2018 compared to the three months ended March 31, 2017 is due to the maturity of the 2017 Notes during the second quarter of 2017.

Other Income:

 
Three Months Ended March 31,
 
2018
 
2017
 
Change $
 
Change %
 
(in thousands)
 
 
Other income
$
2,369

 
$
111

 
$
2,258

 
2,034.2
%

Other income, which is comprised of interest income related to guaranteed payments associated with the sale of our infectious disease business, interest income and gains and losses on foreign currency transactions, increased by $2.3 million during the three months ended March 31, 2018 as compared to the three months ended March 31, 2017, primarily due to the accretion related to our guaranteed payments.



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