Biotech Values

[jbog]

Thomas,

I really can't say it's a steal because of what we don't know. I believe the selloff was largely caused by Momenta's claim that it had to reimburse Sandoz x dollars.

While we don't know how much money this is, it is somewhat comforting that it will be paid for over the next couple of quarters.

This liability really put into question (in my view) whether Momenta will have to go back to the capital markets. I think Momenta has around $63 in current assets, if this unknown liability were to be put on the balance sheet, it could look ugly.

The more I watch this, the more I think that Sandoz is the real financial winner in regards to generic lovenox.