Momenta steadies the ship with Baxter biosimilar deal

Date December 23, 2011

Momenta Pharmaceuticals is finding the world of biosimilars to be a bit rough and tumble. It has had to fight off competitive threats to its copy of the blood-thinner Lovenox whilst taking on generics giant Teva in a legal battle over MS drug Copaxone, all at the same time as some major pharma players were signing global deals in preparation for a new biosimilar pathway to be defined in US regulation.

So it was with some relief to shareholders that the Massachusetts group announced it had signed a $33m deal with Baxter International to develop and commercialise up to six biosimilar products. Shares rose 4% to $17.76, near a five month high, as investors saw an opportunity for Momenta to take advantage of Baxter’s global commercial power and become a biosimilar player. Having a partner with a presence in the hospitals where these products will be sold will be a big advantage, chief executive Craig Wheeler told EP Vantage.

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