UPDATE 1-Momenta profit beats estimates

* Q3 shr $0.70 vs est $0.52

* Q3 rev $52 mln vs est of $46.8 mln

* Shares rise 4 pct before the bell

Nov 1 (BestGrowthStock) – Momenta Pharmaceuticals Inc (MNTA.O: )
reported better-than-expected quarterly results, helped by a
strong launch of blood thinner enoxaparin by its partner
Sandoz, sending its shares up 4 percent.

Revenue was boosted by profit share earned from commercial
sales of enoxaparin, which is the only approved version of
Sanofi-Aventis’ (SASY.PA: ) blood clot treatment, Lovenox.

“Sales continue to be strong, and because the Sandoz
product continues to be the only approved source of generic
Lovenox, Momenta continues to earn a significant profit share
on product sales,” Momenta said in a statement.

The U.S. Food and Drug Administration approved the generic
version of Lovenox for the Sandoz generic drug unit of
Switzerland’s Novartis AG (NOVN.VX: ) in July.

Revenue in the third quarter rose 13 times to $52 million.

The biotechnology company posted a profit of $32.1 million,
or 70 cents a share, compared with a loss of $14.6 million, or
38 cents a share, in the year-ago quarter.

Analysts on average had expected 52 cents a share, on
revenue of $46.8 million, according to Thomson Reuters I/B/E/S.

Shares of the company, which have fallen 36 percent from
the 52-week high in July, rose 4 percent in pre-market trade
Monday. They closed at $16.70 Friday on Nasdaq.
(Reporting by Suzannah Benjamin in Bangalore; Editing by
Gopakumar Warrier)

UPDATE 1-Momenta profit beats estimates