It's nice to get a wide variety of opinions, and yours, no matter how unpopular, is appreciated. The market is clearly not impressed by Momenta's story, and the Lupenox/TEVA side-story seems extremely bizarre.
That being said, TEVA management has a history of being over-zealous (e.g. the TEVA generic Protonix at-risk launch disaster). It is certainly possible (and even likely) that TEVA is taking an unorthodox approach as they seek ways to buoy their extremely weak share-price while creating a sense amongst market participants that the Copaxone franchise is immune from generic-competition. (i.e. TEVA's Elevator Pitch to Market: "We at TEVA have characterization technology as sophisticated as MNTA (we are about to get tL approval) and we are telling you that Copaxone is too complicated to safely replicate, so don't worry about a generic threat to Copaxone")
Don't forget that TEVA was aggressively asserting that they would get approval in August (1 month after MNTA received approval). They also swore that they would get approval before end of the year. (tick tock) And what about the fact that they had a 2 year lead in the generic-lovenox application process.... hmmmm .. their explanations certainly don't pass the "smell-test" you were previously alluding to.
I think the weakness in the PPS was the result of an expectation (by some well connected folks) that MNTA would raise (probably for their FoB program, or to enhance their negotiating posture for a M118 partnership).
IMHO, the MNTA PPS will rise significantly over the next 3-4 weeks.