Momenta Pharmaceuticals, Inc. (MNTA)

[Rocky3]

The evidence we have as of now tends to lean that WPI/Ampha id in the marketplace right now which means the economics of Enoxaparin is changed as we know it.

I think that this an overstatemnt.

When the economics changed last time, Sandoz had notified MNTA of the marketplace change. It was a couple weeks after the fact. We don't "know" today what is happening in the marketplace. We should know in a week or two.

To me, the economics of the NVS/MNTA arrangement are only part of the issue. Also important is how active SNY will be in selling the AG. If Sandoz gets only 20-30% of a much smaller market, the ongoing sales will be very small. But a potential claim against WPI/Amp will be large, and the potential liability to WPI/Amp if they win the patent case will also be small.