Biotech Values

[DewDiligence]

TEVA/MNTA—I doubt that Teva’s leaked internal revenue guidance for 2014 was the main impetus for MNTA’s strength today, although it may have provided a modest tailwind. Rather, MNTA has been creeping higher for some time, and it finally surpassed the level reached immediately after the favorable CAFC ruling on the Copaxone patent in July 2013 (#msg-90362167). MNTA’s sharp sell-off starting the business day following the July 2013 CAFC ruling never made much sense, IMO.