Momenta Pharma up 12% on FDA acceptance of application for generic drug

Tweet   

Momenta Pharmaceuticals Inc. (Nasdaq:MNTA) is up nearly 12% in trading today after the biopharmaceutical company announced ahead of the opening that the U.S. Food and Drug Administration accepted the Abbreviated New Drug Application for a generic version of Copaxone. The application was submitted by Sandoz, Inc., Momenta’s development partner for the drug. Copaxone is used to lower the frequency of relapses in patients with relapsing-remitting multiple sclerosis.

Shares of Momenta are at $14.63, up $1.55 from Thursday’s close. Trading volume is at about 300,000 shares, above the stock’s average.

For detailed price information and recent news stories about Momenta Pharmaceuticals Inc., click MNTA.