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Momenta plans to raise up to $62M in public offering

This article was originally published in Scrip

Executive Summary

Momenta Pharmaceuticals has announced plans to raise around $57.4 million through a public offering of 4 million shares at a price of $14.35 each less than a week after it filed suit in US federal court, together with Sandoz, its partner and the generics arm of Novartis, to block a potential rival generic Lovenox (enoxaparin) a low-molecular weight heparin, from Teva Pharmaceutical Industries (scripintelligence.com, 3 December 2010).

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