The fallout over the FDA's rejection of Momenta's generic version of Lovenox--a rare setback for any developer--is continuing to dent the drug developer's reputation. Analysts have zeroed in on the implications the rejection has for Momenta's whole approach to development. As Cowen & Co. analyst Eric Schmidt noted, "We expect investors to be skeptical around Momenta's entire technology platform, pipeline and complex generic strategy." Ouch.
- read the report from The Wall Street Journal
- take a look at yesterday's release on the rejection