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What: Shares of Momenta Pharmaceuticals
So what: Teva Pharmaceuticals is most well-known for its gigantic generic-drug portfolio, but it also derives about one-third of its revenue from in-house-developed, branded drugs. One of those drugs, Copaxone, is the world's best-selling multiple sclerosis drug. Copaxone is responsible for more than $3 billion in sales each year. Teva had filed a lawsuit against Momenta, Mylan
Now what: This is far from the end of the road for Momenta, but it clearly takes the wind out of shareholders' sails. In December Momenta entered into a collaborative agreement with Baxter International
Craving more input? Start by adding Momenta Pharmaceuticals to your free and personalized watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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