BioCentury
ARTICLE | Company News

Momenta cutting biosimilar programs, headcount

October 1, 2018 11:52 PM UTC

Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) said it plans to terminate five biosimilar development programs under its 2016 co-development deal with Mylan N.V. (NASDAQ:MYL) and reduce headcount by about 50% to focus on its novel pipeline. The restructuring also includes several executive departures.

Momenta President and CEO Craig Wheeler said on a conference call Monday the company conducted a strategic review aimed at reducing its biosimilar expenses in the short-to-medium term so that it could devote resources to its pipeline of early stage compounds for immune-mediated disorders. ...