Listening to the March 3 2014 Cowen conference presentation by the CEO should make any investor feel confident in management and in the company's prospects.
CEO sees MNTAs generic Copaxone as being the only marketed generic for a considerable period and that the MYlan version will follow at a later date. The pricing will not follow the LOVNOX debacle, and they see a 30% discount to TEVA. CEO explains why TEVA tactic to market alternate drug will not sustain against the
Generic introduction, using PBM interactions as key evidence. CEO sees the possibility of growth in the market once the generic is introduced, owing to the large price barrier that now exists for TEVA Copaxone. He sees a $15,000 per yr savings for a PBM to use the generic over TEVA product, which will open strong incentives for the generic. He does not see TEVA introducing a generic.
CEO is confident of FDA approval of generic Copaxone on or about 26 May. FDA has huge generic drug backlog, but explains that they have a priority slot.....but recognizes that FDA process is not as transparent as it used to be, and so the possibilities for delays exist. Nonetheless, CEO is very upbeat.
Two Baxter milestones expected in 2014.....and the Baxter partnership is strong.
Is very excited about the bio similar technology that MNTA has and it's growth prospects.
Back to generic Copaxone, the margins are huge and the income will be massive (for a company of MNTAs size), even with a potential market of 3 players. They have 50-50 revenue agreement with Sanofi which is very lucrative. By my estimate, the annual MNTA revenue stream could be $500M .....roughly equal to its current market cap.