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.