Some Momenta Pharmaceuticals
The biosimilars market is just in its infancy and now is probably a good time to nibble at some of these players. I’ve been eyeing Momenta Pharmaceuticals (Ticker: MNTA) ever since they received approval for the generic version of Lovenox, an anticoagulant from Sanofi-Aventis (Ticker: SNY). Levenox generated ~ $3.9 billion in sales in 2009 and now Momenta is going to get a piece of that action. Today, Sandoz, the generic unit of Novartis (Ticker: NVS), reported that the generic version of Lovenox generated $292 million in sales. Momenta has partnered with Sandoz in the development of the generic version of Lovenox. There are other players waiting for FDA approval for their own generic version of Lovenox, but the approvals may not come until next year. The FDA has set the bar very high for biosimilars and there will be a few players, but it will not be crowded like the small molecule generics. I like Momenta here and picked up a few shares at $15.00.
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