Momenta Pharmaceuticals' Management Presents At Barclays Capital 2012 Global Healthcare Conference (Transcript)

Momenta Pharmaceuticals, Inc. ( MNTA)

Barclays Capital 2012 Global Healthcare Conference

March 14, 2012 2:30 PM ET


Rick Shea – Chief Financial Officer


Doug Gale – Senior Analyst, Barclays Capital


Doug Gale

Good afternoon. My name is Doug Gale I cover Biotech Pharma at Barclays Capital as part of the life sciences team. I’m trying to do it in sort of integrated basis. Up next we have Momenta Pharmaceuticals represented by its CFO Rick Shea.

Clearly a company that is I think really interesting from both technology stand point as well as no shortage of news flow and excitement in the industry. Covering generics manufacturer or generics industry as a whole though I know Momenta is not a generics company, but it certainly has a lot of the elements of litigation and patent challenges that bring a lot of the intrigue and usually attracts a lot of best interest.

So perhaps at the start I think what I thought would be helpful for some people to sort of explain exactly how you define yourself as a company. And what did exactly is that you do and your platform for development of both biosimilars or you know biobetters I think you would even perhaps argue as well as potentially novel therapeutics?

Rick Shea

Okay Doug thanks very much by the way for inviting us. And what we like to say Momenta is a biotechnology company that happens to be working on developing and commercializing generic products, follow on biosimilar or bioequivalent products as well as novel products. And our aim has always been to balance the work that we are doing in the generic programs with moving forward with novel drugs as well. So I think when we first emerged back as we are going public 2004 we were thought of as a sugar company, complex sugars, heparins, polysaccharides. And we’ve also been thought of as a characterization company, a company that was good at figuring out the structure, the chemical structure of complex mixture products.

And I think we are evolving into something broader we are evolving into a company that more broadly can solve complex issues relating to any complex mixture drug and that could be anything from a polysaccharide like Lovenox to a polypeptide, synthetic polypeptide like Copaxone to glycosylated proteins, antibodies, fusion proteins any of these products. We are applying our technology to understanding that. And I will add that as we’ve moved from Lovenox to Copaxone and from Copaxone to biologics we are beginning to work as much on the biology side of the equation as we had been working on the structural chemistry side of the equation. So we are beginning to see ourselves as a company that has the ability to apply cutting edge science to problems of biology.

Doug Gale

And when you think about your processes in your analytical technologies as a platform kind of go forward basis. How defensible do you think it is and perhaps walk people through your IT platform as it relates to the company as a whole as well as the individual product?

Rick Shea

Well we’ve always stressed that most of our lead versus our competitors is doing something that other people are not doing, having a significant amount of knowhow, making an investment in technologies and equipments, that most other companies certainly not companies of our size are making and also thinking creatively and ahead of the competitors in the way that we are thinking about these complex issues. Where we’ve developed IT has really more been product specific I suppose to platform specific.

So for example, in the case of Lovenox we are litigating two patents attempting to keep competitors Amphastar, Watson and also Teva out of the market by asserting patents that are relating to developing specific technology relating to the manufacturer and control of specific product attributes of Lovenox. For example, one sixth in hydro-structure or technology relating to change sequencing these are the types of patents that we’ve developed as we worked on a particular product.

Doug Gale

And then with the Lovenox product obviously last year you had the PI put in place against Amphastar, Watson and it was listed you are currently now in litigation, continue to be in litigation. What is your view or sort of walk through timing of the sequence of events that could potentially allow you to get that market to yourself again?

Rick Shea

Well the timeline is first the court of appeals needs to issue a ruling on why they lifted the temporary injunction. They lifted the injunction following a hearing on January 24 and January 25 now into listing off to the PI. And we expect within the next month or so to get the ruling on why they lifted that PI. Now if that’s a narrow ruling simply addressing a higher hurdle than the district court has or injunctions such as theoretical higher standard that would be fine.

If it’s a broader ruling addressing the enforceability of our patent that’s something we will have to take into consideration in our arguments in the file that’s coming up in October defending those patents. But clearly the district court judge spent fair amount of time looking at the patents, hearing some arguments from Amphastar and Watson regarding the validity of those patents. The issue is actually fairly narrow in that case so that judge found pretty emphatically and definitively that our patents were valid and warranted preliminary injunction. So we will just have to see how that case develops as we go forward we have a trial scheduled in October and a ruling following the trial could be two to six months following the trial.

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