Thursday, January 19, 2012 11:57:30 AM
UBS analyst said, "We now include the upfront fee, risk-adjusted milestones and sales-based royalties from Baxter (NYSE: BAX) in our model. We are also increasing the R&D run-rate by $15M/year effective 2012 to reflect the increases in activities for biosimilars. For 2012 we are raising our EPS estimate from $0.09 to $0.25, mainly driven by $15M in upfront fee which we assume will be recognized in 2012." ( WTF are they referring too?)
"The two near term binary events incl. (1) a decision on the appeal to the PI on Lovenox in late Jan/Feb (hearing is on Jan 24th) on which we remain hopeful and (2) the Copaxone trial decision likely in 1H12 where we assume a negative outcome. Longer term, we believe MNTA has potential for significant shareholder value creation based on its biosimilars play."
Shares of Momenta Pharmaceuticals closed at $19.38 yesterday, with a 52 week range of $10.15-$21.00.
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