Amarin failed to convince a federal appeals court to revive important patents for its heart drug Vascepa. The decision, announced Thursday, places the company`s only generic drug in the United States Hikma had asked the court not to hear the appeal, arguing, among other things, that Amarin „relied solely on cutting-edge studies” in the development of Vascepa. WASHINGTON, June 21 (Reuters) – The U.S. Supreme Court on Monday approved an offer from Amarin Corp PLC (AMRN. O) Subsidiary for the revival of patents on its heart drug Vascepa in a lawsuit against the generic manufacturer Hikma Pharmaceuticals PLC (HIK. L) and Dr. Reddyâs Laboratories Ltd (REDY. NS). A federal appeals court on Thursday dealt a major setback to pharmaceutical company Amarin Corp, upholding a patent ruling that opened the door to generic versions of its heart drug Vascepa.
The judges refused to hear an appeal by Dublin-based Amarin Pharma against a lower court ruling confirming that the patents were invalid following a challenge by Hikma and Dr Reddy`s. The lower court found that the patents were invalid as „obvious” due to „prior art”, meaning that previous publications had already revealed their innovations. Vascepa is an omega-3 oil used to lower fat levels in the bloodstream of patients. Amarin sued London-based companies Hikma and Hyderabad, India, Dr. Reddy`s in Las Vegas and claimed their proposed generic versions of the drug would infringe six of its patents. How our CRISPR Trackr and Drug Pricing Policy Tracker Damian deals with biotechnology, is co-author of The Readout Newsletter and co-host of the podcast „The Readout LOUD”. Tourists stop outside the U.S. Supreme Court building in Washington, D.S., June 17, 2021. REUTERS/Jonathan Ernst. The Washington-based Federal Circuit Court of Appeals, which specializes in patent law, upheld the decision in September.
Hikma launched its generic version of Vascepa in November. Blake Brittain reports on intellectual property rights, including patents, trademarks, copyrights and trade secrets. Contact him at blake.brittain@thomsonreuters.com Our Standards: The Thomson Reuters Trust Principles. Amarin told the Supreme Court in February that you had not considered secondary evidence that the patents were not obvious, including Vascepa`s commercial success and addressing a long-standing need for a drug to treat severe hypertriglyceridemia — high levels of a type of fat found in the blood called triglycerides. which does not increase the „bad” cholesterol. Analysts expect big gains for stocks if Amarin wins in the Federal Circuit Court of Appeals, where oral proceedings begin Wednesday. The company is challenging an American challenge. The judge`s decision in March to invalidate the patents of his Vascepa heart pill, which wiped out a market value of $3.5 billion. In a one-sentence order, the U.S. Court of Appeals for the Federal Circuit upheld a March decision that invalidated patents on Vascepa at the request of generic drug makers Hikma Pharmaceuticals and Dr. Reddy`s Laboratories. Biogen Inc was expected to contribute more than $10 billion to its market capitalization on Wednesday, as a surprising success in the trial of the experimental Alzheimer`s drug it developed with Eisai was hailed by analysts as a resounding victory.
Organized by STAT+, as well as early access and discounts at industry events across the country, the stock could climb from $30 to $35 if Amarin wins, while a loss would send stocks into the $2 to $4 range, Louise, an analyst at Cantor Fitzgerald. The decision comes just one day after the hearing and confirms an earlier court ruling that some patents covering Vascepa were „obvious” and therefore unenforceable. The decision is a victory for Hikma Pharmaceuticals and Dr. Reddy`s Laboratories, two companies that plan to sell generic versions of Vascepa. Receive your inbox to share the most important industry news of the day with STAT+ journalists and leading industry experts in our STAT+ Conversations series The decision by a federal judge last year to invalidate patents cost Amarin Corp nearly 70% of its share price. To read the full article on Westlaw Today, click here: bit.ly/3gTaUDj. The decision opened the door to generic versions of Vascepa and wiped out $3.5 billion of Amarin`s market capitalization. Analysts at Amarin Corp. say investors should bet on the drugmaker`s ability to reverse a devastating patent decision despite quotas similar to a coin throw. Nevada-based U.S.
District Judge Miranda Du ruled in March 2020 that the patents were obvious and unenforceable, noting that previous publications, including a reference to the omega-3 drug Lovaza, had previously revealed the patent innovations.
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