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Momenta Loses Generic Copaxon Bid

Momenta Loses Generic Copaxon Bid (Mnta, TEVA, BIIB)

From Benzinga (September 7, 2010)

Shares of Momenta Pharmaceuticals Inc. (NASDAQ: MNTA) are moving lower this morning on word that the company has lost its bid to produce to generic version of Copaxon, which is currently produced by Teva Pharmaceuticals.

TEVA is moving to the upside by 1.97% after being lower on the session.

This rumored rulling is also bullish for Biogen Idec. (NASDAQ: BIIB), which markets Tysabri. BIIB is currently lower on the session by 0.14%, though well off its lows.

Momenta Pharmaceuticals, Inc. is a biotechnology company specializing in the characterization and process engineering of complex molecules. These complex molecules include proteins, polypeptides, and cell surface polysaccharides, such as heparan-sulfate proteoglycans. This results in a diversified product pipeline of complex generic, follow-on biologic and novel drugs.


Posted: September 2010