Momenta Pharmaceuticals Jumps 6% As U.S. Court Clears Way for Copaxone Generic

Momenta Pharmaceuticals (MNTA) is up 6% Monday after the U.S. Supreme Court rejected Teva Pharmaceutical’s (TEVA) request to ban generic versions of Teva’s Copaxone multiple-sclerosis drug, according to media reports.

Momenta has developed a generic version of Copaxone in partnership with Novartis’ (NVS) Sandoz unit. Mylan (MYL) is also preparing to launch a generic version of Copaxone.

Shares of MNTA last traded at $11.72 with a 52-week range of $10.24 to $19.90.

TEVA shares are down fractionally at $50.71, while NVS is slightly higher at $84.85.

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