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I think he's proposing that oppenheimer is 5 million shares short on MNTA...hah.
when do the updated institutional ownership numbers come out?
Good to see those analysts come out of hiding finally... Too bad it isn't helping the current PPS :)
i find this options business a bit troubling... Certainly looks like MNTA will be trading lower pending some news, which is baffling since we are trading below what I would of expected even with a TEVA approval.
I don't even think if TEVA did get approval it would be up more at all. If anything SNY, would take a hit.
only the FDA knows. MNTA's approval did not leak at all prior to for comparison.
I can confirm from Herper himself that Berstein and TEVA are the sources used.
there was a 750k block right when it hit 4pm
IDIX: Set 52 week high today at 6.08 and had some pretty impressive volume
perhaps that and the 5 mil+ shares short = not so good.... boy oh boy a summary ruling by the judge sure would do wonders!
MNTA: Really getting down there... will probably test the 200 MA and if it breaks...eek.
IDIX continuing to rise into Sept... now if only MNTA would turn it around :)
Unless MNTA partners M118, an FOB, or Markman Hearing update, is there a need to raise cash in the near term?
$350M a year is about as "rough" an estimation as you can get...
I just got another 1k shares - my last bit i swear!
5,371,700 shares short....
MNTA: Did I miss something? About a 70 cent drop in 20 minutes?
up 30 cents on nice volume today! :)
yeah but its volume was even less yesterday when it went down 25 cents
not a bad day for idix :)
MNTA: Thanks to the board (Zipjet, Dew, Mouton, among others) for helping me stay sane during this absurd $10 haircut with the great info!
OT: Doesn't The Honorable Judge Sullivan have more important cases to tend to?? :)
MNTA: About to lose the 50 day MA. It could get ugly(ier) without something to bring us back up!
MNTA: Couldn't resist... Added a little more today FWIW.
Reporter’s Notebook: What’s the Price of a 30-Day Supply of Lovenox?
By Alicia Mundy
Yesterday a judge put off a ruling on Sanofi-Aventis’s request to keep a generic version of its anti-clotting drug Lovenox from hitting the market, saying he needed more time to review the details of the case and the transcript from the (lengthy) hearing. Sanofi requested an injunction after the FDA approved the generic version of heparin July 23 for Sandoz, a Novartis unit, and its partner Momenta Pharmaceuticals.
The Health Blog was at the hearing. Here are two tidbits from our notebook, the first of which we’re calling …
The Great Unknown
During the hearing, a lawyer for Sandoz said a generic version of Lovenox is in the public’s interest since Sandoz is offering it for 30% to 35% less than what Sanofi charges for the name brand. Judge Emmet Sullivan asked the obvious: What’s its price?
That question provoked silence.
The Sandoz lawyers looked at each other and shrugged their shoulders; attorneys for Sanofi, which has been selling Lovenox for years, looked equally uncomfortable. Don’t know, they said.
Sullivan asked again. Not even the FDA team ventured a guess.
“No one knows how much the drugs cost?” said Sullivan, incredulous. “What are we talking about for a 30-day supply?”
Still no answer. Perhaps no one wanted to tell the tough jurist — who just slammed the government’s $300 million settlement with Barclays bank as a “sweetheart deal” – that the question he asked was about as easy to answer as “What’s the meaning of life?”
No one knows what a drug really costs — it depends on when and where it’s sold, who’s selling it, how it’s sold, and on the maze of deals and promises that are part of the industry. (At least that’s what drug makers tell reporters.)
Exasperated, Sullivan told the assembled legal horde and company reps, “I guess I should call CVS.”
(Subdued laughter from the crowd.)
The judge started to change the subject and turned back again, “Seriously. No one knows?”
No, your honor.
But whatever it is, there are discounts available.
*******************************************************
Friends of the Court (and of Sandoz and FDA)
Among some interesting filings in Sanofi’s suit to overturn the FDA approval of the Sandoz drug are an amicus brief from AARP and a statement from Medco, both supporting generic heparin as crucial to public health. Sullivan lauded both documents from the bench for their informative value.
Medco’s declaration, by VP Jeffrey May, says 230,000 of the pharmacy benefit manager’s members used Lovenox last year. Medco paid some $300 million to clients and members in benefit claims for the drug, of which $44 million went for direct purchases. A generic version, such as Sandoz/Momenta’s enoxparin, is expected to save Medco about 25% initially and about $70 million annually — more if another generic enters the market. “The public interest overwhelmingly favors competition,” May’s declaration says.
The AARP brief says the lack of lower-cost biologic drugs puts life-saving medicines out of reach for many patients. It accuses brand-name drug makers in general of “evergreening” their products — finding ways to repeatedly hang onto patents and keep generics off the market. AARP says Sanofi has “reaped billions of dollars in profits” over its 17-year monopoly — its 2009 sales of Lovenox were roughly $4 billion. The two documents aren’t evidence but they are getting read by the judge — he used the line about the 17-year monopoly during the session.
http://blogs.wsj.com/health/2010/08/18/reporters-notebook-whats-the-price-of-a-30-day-supply-of-lovenox/?mod=yahoo_hs
or maybe, and just maybe, HEB is and always has been a scam and really shoud trading about 50 cents less than what it is.
I posted to show jbog that these small fluctuations in price are not really indicative of anything. Either way, understood.
lol.
Here's the formal update if anyone is interested
UPDATE 1-US judge to rule 'soon' on generic blood thinner
Tue Aug 17, 2010 12:56pm EDT
* Judge: will decide as soon as he can in Sanofi case
* Judge offers no other specifics after hearing
WASHINGTON Aug 17 (Reuters) - A U.S. judge said on Tuesday that he would rule as soon as possible on a request to block the sale of a generic version of Sanofi-Aventis' (SASY.PA) blood thinner drug being marketed by Novartis AG's (NOVN.VX) Sandoz unit and Momenta Inc (MNTA.O).
Sanofi had argued that the FDA wrongly approved the generic medicine in July, stating that health regulators had failed to follow its procedures as well as ensure the generic version by Sandoz had the same active ingredient as its drug, known as Lovenox and used to treat blood clots.
Sanofi sought a preliminary injunction blocking the FDA's decision.
U.S. Judge Emmet Sullivan said he would "issue an appropriate decision as soon as I can," but gave no specific timetable for doing so. (Reporting by Jeremy Pelofsky, editing by Lisa Von Ahn)
http://www.reuters.com/article/idCNN1714222920100817?rpc=44
MNTA now down 1.34% to SNY's up 1.11%..
so when will we know the result of the case? Will it be a material event?
Perhaps the best thing we can infer from options is that we cannot infer anything from them.
MNTA management stated insiders would be selling for the tax reasons 3-4 days before they started selling.
the current PPS makes me want to cry :)
picked up my last chunk of MNTA today FWIW...
MNTA: We've now gone back to levels that were reached pre-approval...when will the bleeding stop?
Momenta seems to be able to handle approx 30% of the market as of today so that should give us sales in the area of $562 million per annum.
not bad for a company with market cap under $1b
I think he was talking about revenue.
how do you figure if MNTA maintains sole generic?
MNTA: just a curious observation, but is it safe to say that every day MNTA has sole generic they bring in about $1 mil?? :)