ARTICLE | Financial News

Momenta beats Street

May 6, 2011 12:17 AM UTC

Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) reported 1Q11 diluted GAAP EPS of $1.13, beating by $0.22 the Street's estimate of $0.91. Momenta reported a GAAP loss per share of $0.37 in 1Q10. The company recorded $75.8 million in profit-sharing revenue from partner Novartis AG (NYSE:NVS; SIX:NOVN) for sales of a generic version of anticoagulant enoxaparin, which was approved last year. Novartis previously reported 1Q11 sales of $247 million for the drug. Momenta gained $0.07 to $18.25 on Thursday. ...