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CAMBRIDGE, Mass., June 19, 2019 (GLOBE NEWSWIRE) -- Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA), a biotechnology company focused on discovering and developing novel biologic therapeutics to treat rare immune-mediated diseases, today announced that Momenta, Sandoz AG and Amphastar Pharmaceuticals (the “parties”) have executed a mutually agreeable settlement agreement resolving all pending litigation between the parties related to enoxaparin sodium injection.
“We are very pleased to have reached a comprehensive resolution with Amphastar resolving all of our outstanding litigation,” said Craig Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. “This agreement eliminates the burden of ongoing legal costs and allows us to focus on the operational execution of our business, as we advance our novel portfolio of immune-mediated therapeutics.”
Under terms of the settlement, the parties jointly requested the U.S. District Court for the District of Massachusetts (the “District Court”) to vacate the 2017 patent judgment relating to the parties. The settlement became effective upon the District Court entering a final order vacating the patent judgment on June 18, 2019. The parties have also dismissed the appeal of the 2017 patent judgment pending at the US Court of Appeals for the Federal Circuit and will submit stipulations of dismissal of the antitrust and patent cases pending in the District Court. The terms of the settlement are confidential.
Momenta Pharmaceuticals is a biotechnology company with a validated innovative scientific platform focused on discovering and developing novel therapeutics to treat rare, immune-mediated diseases and advancing its late stage biosimilar portfolio. The company is headquartered in Cambridge, MA.
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.
Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements about the submission of stipulations of dismissal and the use efficacy, safety, tolerability, convenience and commercial potential of our product candidates. Forward-looking statements may be identified by words such as "believe," "continue," “plan to”, "potential," "will," and other similar words or expressions, or the negative of these words or similar words or expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, including the risk of the unpredictable nature of early stage development efforts for our product candidates; safety, efficacy or tolerability problems with our product candidates; unexpected adverse clinical trial results; and those referred to under the section "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 filed with the Securities and Exchange Commission, as well as other documents that may be filed by the Company 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. The Company 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.
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