"Our return to profitability will most likely come from the launch of our generic Copaxone, which if we’re not successful on our patent litigation, could be delayed until the expiration of the patent in the third quarter of 2015. During that time, over the next 3.5 years, our operating expenses will likely increase as we move up to six biosimilar product candidates through development and could further increase if we expand the number of products and our Baxter biosimilar collaboration or if we choose to develop biosimilars outside that collaboration. Our operating expenses are also likely to increase as M402 and potentially other novel drug candidates advance in the clinic."
This comment does not contemplate a victory against Amphastar/Watson Pharma $WPI to restore more favorable market dynamics for generic Lovenox (enoxaparin) for Sandoz/Momenta. While a possible outcome that some (not I) see as generating a huge windfall for MNTA, MNTA management are certainly not counting on this scenario playing out, but it was discussed to some extent during the Q&A session. Basically Wheeler said that if there was any enox victory, it would be a scenario not contemplated by the Sandoz $NVS contract and would have to be worked out after the fact.