Export

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.

This content is written, edited and published by EP Vantage and is distributed by Evaluate Ltd. All queries regarding the content should be directed to: news@epvantage.com

EP Vantage is a unique, forward-looking, news analysis service tailored to the needs of pharma and finance professionals. EP Vantage focuses on the events that will define the future of companies, products and therapy areas, with detailed financial analysis of events in real-time, including regulatory decisions, product approvals, licensing deals, patent decisions, M&A.

Drawing on Evaluate, an industry-leading database of actual and forecast product sales and financials, EP Vantage gives readers the insight to make value-enhancing decisions.

EP Vantage SM ©2017 EP Vantage Ltd