From the MNTA CC:
Eric Schmidt - Cowen and Company
Rick I am a little bit confused by what happened in the third quarter with regard to your bookings on enoxaparin. I understand that they, the profit share of 45% was an effect through the duration of the quarter. But I think you or maybe Novartis said that sales were impacted or margins in sales were impacted by the authorized generic?
Craig Wheeler
It was impacted by pricing pressures because of the approval of a generic competitor and I think Sanofi took some pretty aggressive pricing actions in marketplace and put some downwards pressure on the pricing.
Eric Schmidt - Cowen and Company
Okay, so Craig that was not the AG, but the brand?
Craig Wheeler
Yes, correct.
Eric Schmidt - Cowen and Company
Okay. Is there any insight into what’s been going on with pricing and to our volumes since the injunction put into place, have they pulled back at all or change their pricing?
Craig Wheeler
We don’t have any specific knowledge I mean Sandoz talked in their call about that they have seen some impact on prices continuing pressure, but we don’t have any real current knowledge. It seems like they had a limited launch, but we don’t really have the full data at this point.
It is astonishing what foolish things one can temporarily believe if one thinks too long alone ... where it is often impossible to bring one's ideas to a conclusive test either formal or experimental. J.M. Keynes
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