Momenta Pharmaceuticals Announces Settlement Agreement with Amphastar Resolving Enoxaparin Sodium Injection Litigation
June 19 2019 - 8:00AM
Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA), a biotechnology
company focused on discovering and developing novel biologic
therapeutics to treat rare immune-mediated diseases, today
announced that Momenta, Sandoz AG and Amphastar Pharmaceuticals
(the “parties”) have executed a mutually agreeable settlement
agreement resolving all pending litigation between the parties
related to enoxaparin sodium injection.
“We are very pleased to have reached a comprehensive resolution
with Amphastar resolving all of our outstanding litigation,” said
Craig Wheeler, President and Chief Executive Officer of Momenta
Pharmaceuticals. “This agreement eliminates the burden of ongoing
legal costs and allows us to focus on the operational execution of
our business, as we advance our novel portfolio of immune-mediated
therapeutics.”
Under terms of the settlement, the parties jointly requested the
U.S. District Court for the District of Massachusetts (the
“District Court”) to vacate the 2017 patent judgment relating to
the parties. The settlement became effective upon the District
Court entering a final order vacating the patent judgment on June
18, 2019. The parties have also dismissed the appeal of the 2017
patent judgment pending at the US Court of Appeals for the Federal
Circuit and will submit stipulations of dismissal of the antitrust
and patent cases pending in the District Court. The terms of the
settlement are confidential.
About Momenta
Momenta Pharmaceuticals is a biotechnology company with a
validated innovative scientific platform focused on discovering and
developing novel therapeutics to treat rare, immune-mediated
diseases and advancing its late stage biosimilar portfolio. The
company is headquartered in Cambridge, MA.
To receive additional information about Momenta, please visit
the website at www.momentapharma.com, which does not form a
part of this press release.
The Company’s logo, trademarks, and service marks are the
property of Momenta Pharmaceuticals, Inc. All other trade
names, trademarks, or service marks are property of their
respective owners.
Forward-Looking
Statements
Statements in this press release regarding management's future
expectations, beliefs, intentions, goals, strategies, plans or
prospects, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including but not
limited to statements about the submission of stipulations of
dismissal and the use efficacy, safety, tolerability, convenience
and commercial potential of our product
candidates. Forward-looking statements may be identified by
words such as "believe," "continue," “plan to”, "potential,"
"will," and other similar words or expressions, or the negative of
these words or similar words or expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors, including the risk of
the unpredictable nature of early stage development efforts for our
product candidates; safety, efficacy or tolerability problems with
our product candidates; unexpected adverse clinical trial results;
and those referred to under the section "Risk Factors" in the
Company's Quarterly Report on Form 10-Q for the quarter ended March
31, 2019 filed with the Securities and Exchange Commission, as
well as other documents that may be filed by the Company from time
to time with the Securities and Exchange Commission. As a
result of such risks, uncertainties and factors, the Company's
actual results may differ materially from any future results,
performance or achievements discussed in or implied by the
forward-looking statements contained herein. The Company is
providing the information in this press release as of this date and
assumes no obligations to update the information included in this
press release or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
INVESTOR CONTACT: |
MEDIA CONTACT: |
Patty Eisenhaur |
Karen Sharma |
Momenta Pharmaceuticals |
MacDougall Biomedical
Communications |
1-617-395-5189 |
1-781-235-3060 |
IR@momentapharma.com |
Momenta@macbiocom.com |
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