U.S. patent office rules in favor of Biogen over Mylan for MS drug
- Biogen Inc’s shares surged as much as 32% on Wednesday after the drugmaker won a favorable U.S. patent ruling for its main multiple sclerosis drug Tecfidera in a battle with Mylan NV.
The Patent Trial and Appeal Board, an administrative court run by the U.S. Patent And Trademark Office, ruled that Mylan had failed to demonstrate that some claims were not patentable. “The stock will surely move higher on the headline news and even higher over time, as the decision today makes it easier for investors to own for Alzheimer’s later in 2020-21”, said Jefferies analyst Michael Yee.
The company is “actively preparing for the potential launch of aducanumab with an initial focus on the United States,” Chief Executive Officer Michel Vounatsos said on the company’s earnings call last week.While the ruling will extend Tecfidera’s patent into 2028, Wedbush analyst Laura Chico questioned the ability of the patent to withstand further challenges.There will still likely be an appeal and also a separate generic litigation court case, Jefferies analyst Yee said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
32 Valentine's Day Dinners Perfect for Sharing (or Not)32 Valentine's Day dinners perfect for sharing (or not):
Read more »
32 Valentine's Day Dinners Perfect for Sharing (or Not)32 Valentine's Day dinners perfect for sharing (or not):
Read more »
China Applies for Patent for Potential Coronavirus DrugChina has applied for a new patent on an experimental Gilead Sciences Inc. drug that its scientists believe might fight the coronavirus.
Read more »
'Watch out Tesla believers': Critics are piling on to warn the 300% stock rally will crash and burn | Markets InsiderTesla shares have soared 300% in six months, hitting an all-time high of over $900 on Tuesday. Investors, analysts, and politicians are warning ...
Read more »
China lab seeks patent on use of Gilead's coronavirus treatmentA state-run Chinese research institute has applied for a patent on the use of Gi...
Read more »
Zoom shares soar over 15 percent on Wuhan coronavirus fears - Business InsiderVideo-conferencing company Zoom just had its best trading day in 8 months, as coronavirus fears mean that more people work from home
Read more »