Momenta Pharmaceuticals, Inc. (MNTA)

[jbog]

NVS reports generic Lovenox® @ USD 156 million. A little less than 12% decline. Could have been worse.


Sandoz net sales declined 13% (-7% cc) to USD 2.1 billion, driven by 7 percentage points of price
erosion. Volume was flat as double-digit sales growth in Western Europe, Asia and biosimilars was
offset by declining volumes in both the US and Germany versus the prior-year quarter.
US retail generics and biosimilars sales (USD 629 million, -26% cc) declined as a result of increased
competition and lower pricing on enoxaparin (generic Lovenox®, USD 156 million), as well as nearly
USD 70 million of prior-year sales of gemcitabine and lansoprazole authorized generics. German
sales of retail generics and biosimilars (USD 279 million, -8% cc) declined, primarily as a result of the
continued penetration of low-priced statutory health insurance tenders. Western Europe (which
excludes Germany) retail generics and biosimilars grew strongly (+10% cc), driven by double-digit
growth in France, Italy, the United Kingdom and the Nordics. Japan grew 14% (cc) in the quarter.
Emerging Growth Markets performed strongly, led by Asia (+24% cc), which was driven by doubledigit growth in China and Southeast Asia, and Central and Eastern Europe (+14% cc), with high
double-digit growth in Russia, Poland and Turkey.

Sandoz continued to strengthen its number one global position in biosimilars (USD 84 million, +28%,
+39% cc), and saw strong momentum across all three of its products – Omnitrope (human growth
hormone), Binocrit (epoetin alfa) and Zarzio (filgrastim) – each of which is the leading biosimilar in its
respective market segment.