Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of biotechnology company Momenta Pharmaceuticals (Nasdaq: MNTA) surged as much as 12% in early trading today on positive results from one of its co-developed drugs.

So what: Swiss drug giant Novartis (NYSE: NVS) reported that its generic drug enoxaparin, a copy of sanofi-aventis' (NYSE: SNY) blood thinner Lovenox, blew out expectations with sales of $292 million for the quarter. Naturally, this bodes well for Momenta, whose technology happens to be used in enoxaparin.

Now what: With all the attention being paid to generics, Momenta, which specializes in the analysis of complex molecules, is certainly worth looking into. While today's double-digit surge already seems short-lived, enoxaparin's impressive results further validate Momenta's technology. Of course, given that it's still small and unprofitable, I'd have to buy Momenta in a "biosimilar basket" with the likes of Teva Pharmaceutical (Nasdaq: TEVA), Watson (NYSE: WPI), and Mylan (Nasdaq: MYL).

Interested in more info on Momenta? Add it to your watchlist here by clicking here.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Momenta is a Motley Fool Rule Breakers pick. The Fool owns shares of Teva. Try any of our Foolish newsletter services free for 30 days.

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