Momenta Pharmaceuticals, Inc. Q2 2010 Earnings Call Transcript

Of course, we at Momenta feel that is the appropriate approach. They’ve also shown they will recognize the advancement in analytic sciences that allows applicants like Momenta and Sandoz to meet these high standards. We are proud to be a leader in this field and are pleased that we’ve been able to gain the first approval.

As expected around such a high profile event, many series, opinions and even some facts have been raising around the investment community since the approval. My goal in the next few minutes is to provide some clarity on the situation to help investors to understand the approval and its impact on Momenta.

First, regarding the product launch, our collaborative partner Sandoz launched the product immediately following the approval on July 23. Demand has been strong and we are pleased with the product's pricing.

We have seen no resistance to uptick of the products in the market and expect we will continue to see robust demand as the launch continues. Based on what we’ve seen so far, we believe there's plenty of room for the brand and Sandoz to compete profitably in this large market.

At this time, we do not see incentives in place for Sanofi to consider launching an authorized generic as long as we are the only generic competitor in the market. Of course, Sanofi-Aventis will do their own analysis and we cannot predict what action they may take.

Second, I would turn to the economic picture for Momenta. As the first generic launched, we have met the criteria for $5 million milestone payment from Sandoz. We are due to be paid a profit share between 40% and 50% as long as we have sold generic in the market.

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