CAMBRIDGE, Mass., July 21, 2017 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) today announced that the jury in the District Court for the District of Massachusetts in Boston has issued its verdict finding that the Company’s U.S. Patent No. 7,575,886, covering methods for the manufacturing of generic LOVENOX® (Enoxaparin Sodium Injection), was infringed, but invalid and unenforceable.
“We are disappointed in the jury’s verdict and believe the facts and the law do not support these findings. We are considering all available legal options to overturn the verdict, including post-trial motions and appeals,” said Craig Wheeler, President and Chief Executive Officer of Momenta. “We continue to believe in the importance of investing in innovative techniques for bringing products to market and protecting those innovations from unauthorized use.”
Formal judgment has not yet been entered.
About Momenta
Momenta Pharmaceuticals is a biotechnology company specializing in the detailed structural and functional analysis of complex drugs and is headquartered in Cambridge, MA. Momenta is applying its technology to the development of generic versions of complex drugs, biosimilar and potentially interchangeable biologics, and to the discovery and development of novel therapeutics for autoimmune indications.
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, including statements relating to its beliefs and intentions related to the jury’s findings, the importance of investing in innovative techniques, and our considering all available legal options to overturn the verdict are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as "believe," "continue," "is considering," "will," or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors referred to in the Company's Quarterly Report on Form 10-Q for the month ended March 31, 2017 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Momenta 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. Momenta 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.