Momenta Pharmaceuticals, Inc. (MNTA)

[indigokid]

Flo,
I think most careful readers of this board figured out the brands with your first post on the patents. And not to dampen your enthusiasm on MNTA (I share it) but so have all the other biosimilar partnerships and there are many.

Almost every name there is a "blockbuster" and therefore a target by multiple companies (except possibly Orencia which I haven't seen anyone else going after publicly). As a result there are very few big players that would likely be buyers (of MNTA) unless they drop or terminate existing biosimilar partnerships.

Even Mylan is pusuing some of those names with different partners. Given its insight into MNTA with existing partnership they should be first to recognize....

As a result I'm not sure the Street will fully recognize MNTA potential (as you have) until it is the first (or among the first) to achieve interchangeable status. Each product approval Enox, Copax 20mg, copax 40mg (soon?) gets it a step closer and builds credibility. Given the recently issued draft rules by the FDA on biosimilar approval and interchangeable guidance I believe this has a high probability. IMO MNTA will be the first to get Humira approved as interchangeable - then Orencia. At that point we may see others drop bio-sim partners and puruse MNTA, but by then valuation won't likely be where it is today.

Aside from the challenges of achieving interchangeable status there are significant legal and patent hurdles.

A Humira or even Orencia interchangeable especially if first (and only) will be a quatum leap in investor sentiment and likely valuation, but until then it will likely stairstep up with approvals, positive clinical trials, new partnerships, positive court outcomes, more products in portfolio, and increasing revenue streams. JMHO