Tag Archives: mnta

Mylan, Momenta Team Up To Develop Biosimilar Drugs

Generic-drug giant Mylan (MYL) agreed to develop six biosimilar drugs with biotech Momenta Pharmaceuticals (MNTA) Friday while also announcing the retirement of its CFO. Momenta got an upgrade as a result. Mylan agreed to pay $45 million upfront plus up to $200 million in milestone payments should the candidates be successful, in exchange for commercialization rights. Momenta has the option to “co-commercialize in a supporting commercial role, any

Momenta Downgraded After Stock Price Doubles

Momenta Pharmaceuticals’ (MNTA) stock dropped 8% Thursday after UBS downgraded it to sell, saying the company’s recent good news has already been priced into the stock. Analyst Marc Goodman wrote that last month’s launch of Momenta’s and partner Novartis’ (NVS) generic version of Teva Pharmaceutical’s (TEVA) blockbuster Copaxone should drive near-term earnings growth, but he says the doubling of the stock price this year has also been driven by

Momenta, Novartis Win FDA Nod For Generic Copaxone

Sandoz, the generics division of Novartis (NVS), and its biotech partner Momenta Pharmaceuticals won FDA approval on Thursday for the first generic version of popular multiple-sclerosis drug Copaxone. The FDA denied a citizens’ petition by Copaxone’s manufacturer, Teva Pharmaceutical Industries (TEVA), requesting further proof of the similarity and safety of any generic version of the drug. Momenta (MNTA) said in a press release that the generic