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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Momenta Pharmaceuticals Inc | NASDAQ:MNTA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 52.48 | 47.70 | 52.45 | 0 | 01:00:00 |
From May 2019 to May 2024
Mylan NV and Momenta Pharmaceuticals Inc. said Friday they would jointly develop and commercialize six biosimilars.
Mylan will make an upfront cash payment of $45 million to Momenta and could pay up to $200 million if milestones are reached. Each company will equally share the development costs and eventual profits.
Mylan will lead world-wide commercialization, and Momenta has the option to co-commercialize in the U.S.
Biological drugs are created by living cells, and biosimilar products are their genetic drugs' equivalents. To get approval, biosimilars must show they are "highly similar" to an already-approved biological drug. The FDA approved the first biosimilar in March.
Mylan shares rose 1.7%, and Momenta shares jumped 4.1% in premarket trading.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
January 08, 2016 09:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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