NEW YORK (
) -- Shares of
jumped in late trades on Friday after the Cambridge, Mass.-based biotech announced it has obtained a preliminary injunction against a trio of companies to stop them from selling a generic version of Lovenox, a treatment to prevent blood clots in the legs.
The company said a U.S. district court has entered an order to enjoin Amphastar Pharmaceuticals,
, and International Medical Systems from selling the drug until a decision is handed down in ongoing patent litigation related to Lovenox.
"In granting the motion, the District Court found that Momenta Pharmaceuticals demonstrated a reasonable likelihood of success on the merits of their claim that Patent No. 7,575,886 is valid and infringed by the competitor's enoxaparin sodium product," the company said in a statement.
Momenta has sued the companies for infringement of patents related to the manufacturing of enoxaparin sodium, which is sold under the brand name Lovenox.
The stock was last quoted at $14.65, up 20%, on after-hours volume of more than 200,000, according to
Based on Friday's regular session close at $12.24, the shares were down 25% in the past year, but they've bounced since scraping a 52-week low of $10.15 on Sept. 22.
Momenta is slated to report its fiscal third-quarter results on Nov. 7. The average estimate of analysts polled by
is for earnings of $1.29 a share in the September-ended quarter on revenue of $90.2 million.
Written by Michael Baron in New York.
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