Momenta Hit Hard as Generic Lovenox Rival Nears Approval
By Catherine Shaffer
Wednesday, January 26, 2011
Stock in Momenta Pharmaceuticals Inc. dropped sharply Tuesday following news that Teva Pharmaceuticals Industries Ltd. received a minor deficiencies letter on its application for a generic Lovenox injection. Investors have taken the correspondence as a sign that Teva's product is close to the finish line. Momenta's M-Enoxaparin is currently the only generic formulation of Lovenox on the market, and Teva's offering could seriously cut into Momenta's revenues.
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