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The Medicines Company Closes Public Offering of Common Stock
- Client News
- June 28, 2019
Paul, Weiss client The Medicines Company, a biopharmaceutical company focused on developing treatments for atherosclerotic cardiovascular disease, closed a public offering of 5,227,273 shares of its common stock at a public offering price of $33.00 per share. Shares sold in the offering included 681,818 shares issued pursuant to the exercise in full of the underwriter’s option to purchase additional shares. Gross proceeds of the offering, before underwriting discounts and commissions and other expenses, totaled approximately $172.5 million. The company plans to use the net proceeds of the offering to fund its clinical development of inclisiran (a potential treatment that the company is seeking to develop for hypercholesterolemia) and for general corporate purposes. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as the joint bookrunning managers and underwriters for the offering.
The Paul, Weiss team includes, among others, corporate partners John Kennedy, Scott Barshay and Manuel Frey; tax partner Patrick Karsnitz; intellectual property counsel Jonathan Ashtor; and employee benefits counsel Jason Ertel.