Momenta Pharmaceuticals, Inc. (MNTA)

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LEST WE FORGET ------

Amphastar Pharmaceuticals Inc (AMPH) Q3 2018 Earnings Conference Call Transcript - Nov. 8, 2018
[Friday's close - AMPH 21.59 + .88]

Motley Fool -

Excerpts -

William Peters -- Chief Financial Officer
Sales for the third quarter increased 30% to $75.5 million from $57.9 million in the previous year's period. Enoxaparin sales increased 183% to $18.6 million from $6.5 million in the third quarter of last year, as there was a market shortage in September, which led to an increase in non-contract sales at list prices. We were also able to take a price increase on enoxaparin to partially offset the increasing costs of heparin.

During the quarter, we used a portion of our cash to buyback approximately $7.6 million of stock.

Jason Shandell -- President
....it helped that Sandoz dropped out of the market...because Sandoz dropped out, they stop shipping or ....left the market early in the quarter. At the end of the quarter there was a market shortage.

William Peters -- Chief Financial Officer
Sure. So on that one, I think I might have given an update in the past but just to refresh, basically Momenta is appealing the patent case, which is as expected. And so we've been going through that briefing, you never know how long it'll take for an appellate decision, but based on historical data, we believe that we could get a decision in the summer of 2019. And so on the $100 million bond, we had moved on that immediately after the final judgement with the court, Momenta petition the court that they should wait, pending the appeal and the court agreed. So with respect to the $100 million, it would have to be after the appeal is resolved, which would be the summer of 2019, is my estimation. However, in parallel, the momentum is really building in our antitrust case. We completed discovery in that case that the end of October and now we are going through depositions and the trial for that case is in September of 2019. So it's a matter of whether they want to go to another trial with us. This time, we are the plaintiff, and we are willing to accept a global settlement, where we would dismiss the antitrust case. And basically all cases would be dismissed for some substantial amount of money to Amphastar. But if that does not happen we are prepared to go to trial in the antitrust, which would provide treble damages, which would be much in excess of the $100 million bond.

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