NEW YORK (AP) — Shares of Momenta Pharmaceuticals Inc. jumped Monday after the company said a court is keeping competition for its anti-clotting drug enoxaparin off the market.
THE SPARK: Momenta and its partner Sandoz sell the authorized generic version of Lovenox, also called enoxaparin. After the market closed on Friday, Momenta said a Massachusetts court agreed that to block other companies from selling a generic version of the drug because those products infringed on patents belonging to Momenta.
The Food and Drug Administration recently approved a generic made by Amphastar Pharmaceuticals, and the injunction also prevents Watson Pharmaceuticals Inc. from selling a competing product until the lawsuit is resolved.
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