Momenta Pharma Doubles on Lovenox News (MNTA)

Shares of Momenta Pharmaceuticals Inc. MNTA just reopened after being halted and shares are trading higher by 103.35%, at $24.26. The stock is trading higher on news that the FDA has confirmed approval for the first generic Lovenox. In a recent press release, the company “confirms that the FDA has granted marketing approval of the Abbreviated New Drug Application (ANDA) for enoxaparin sodium for injection filed by Sandoz.” Enoxaparin (Lovenox) is used to prevent blood clots in the leg in patients who are on bedrest or who are having hip replacement, knee replacement, or stomach surgery. It is used in combination with aspirin to prevent complications from angina (chest pain) and heart attacks. It is also used in combination with warfarin to treat blood clots in the leg. Enoxaparin is in a class of medications called low molecular weight heparins. It works by stopping the formation of substances that cause clots. Source: Momenta Pharmaceuticals Inc.