MNTA: I think the "outlandish valuations" are actually pessimistic. They assume a modest P/S value; further, they do not ascribe any value to a potential Sandoz filing in EU. I'm going out on a limb and suggesting that Sandoz files in EU the same month that MNTA files the immunogenicity supplement to the FDA. (They'll have a complete dossier to file.)
I wonder if the tide is turning for Arixtra(fondapirinux) and whether this may have implications for the eventual market for m-enoxaparin.
I was surprised to learn that a well-run NH hospital where I have worked is phasing out Lovenox this month, and substituting Arixtra.
Here is a portion of the letter from the Pharmacy and Therapeutics committee: Formulary Change:
In the continued efforts to provide patients at XXXX Hospital with safe, effective and cost efficient medications, the Pharmacy and Therapeutics Committee approved the addition of Arixtra® (fondaparinux) to the hospital’s formulary in place of enoxaparin.
This decision was made based on provider requests, patient safety, drug information, once a day dosing of fondaparinux, reports in literature supporting the use of fondaparinux in the treatment or prophylaxis of thromboembolism in patients with heparin-induced thrombocytopenia (HIT), and cost savings for the organization.
Therefore, over the next several weeks the organization will be making the conversion from enoxaparin to fondaparinux. A complete conversion will be implemented no later than August 1, 2009.
I would be interested if there is other evidence from across the US that Arixtra is taking turf.
Aside from having to learn how to use a new drug, my concern as a MNTA holder is that if Arixtra is able to position itself with a significant market share just prior to generic enoxaparin being approved, it may pose a significant barrier to adoption of the generic (i.e. MNTA produced) drug.
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