Momenta Pharmaceuticals, Inc. (MNTA)

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How the launch of Glatopa transforms Momenta from a ‘one-trick pony’
Jun 23, 2015, 12:54pm EDT
Boston Business Journal

For Momenta Pharmaceuticals CEO Craig Wheeler, the launch of the Cambridge company’s second drug in its 14 year history is a “huge milestone.”

“Everyone was wondering if we were going to be a one-trick pony,” Wheeler said in an interview. “We’ve shown the platform has applications across a wide variety of drugs.”

With the launch last week of a generic version of the multiple sclerosis drug, Copaxone, Momenta (Nasdaq: MNTA) gains a second drug to add to its generic of Lovenox, which was approved in 2010. Wheeler said that generic drug was “very successful,” bringing in $1.4 billion in revenue to Momenta over the past few years. He has high hopes that the second generic, being sold under the name Glatopa, will be even more successful.

His hopes are being shared by investors, who have already doubled the 256-employee company’s stock price this year. As of Monday, Momenta’s stock value was at a 10-year-high, giving it a market cap of more than $1.6 billion. Expectations of the pending launch has already allowed Momenta to raise $158 million in an oversubscribed stock offering in May, which more than doubled the $97 million in cash the company reported as of the end of March.

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