Momenta falls on Amphastar’s generic Lovenox approval, and sues for infringement
This article was originally published in Scrip
Executive Summary
Momenta Pharmaceuticals – which since July 2010 has had the US generic Lovenox market to itself, along with partner Sandoz (Novartis) - saw its share price drop sharply after FDA approved a version of enoxaparin from Amphastar Pharmaceuticals. The approval, announced 19 September, led to Momenta's shares falling over 30% that day, to $12.30, and fell further to under $11 on 21 September, as it sued Amphastar for patent infringement.