The Medicines Co (MDCO) announced that the U.S. District Court for the Northern District of Illinois has ruled in its favor in a patent infringement lawsuit against Mylan, Inc (MYL). Mylan was looking to get its generic version of The Medicines Co.’s Angiomax (European trade name: Angiox) approved in the U.S.
The Medicines Co. stated that the Court declared its patent claims 1-3, 7-10 and 17 to be valid and enforceable and that Mylan’s abbreviated new drug application infringed U.S. Patent No. 7,582,727 covering Angiomax. The ‘727 patent will expire in Jul 2028.
We remind investors that on Jun 21, 2013, Mylan had filed a summary judgment motion of non-infringement of two patents, ‘727 patent and ‘343 patent, and claimed that the ‘727 patent was invalid. Although the Court had agreed with Mylan regarding non-infringement of the ‘343 patent, it had denied the motion with respect to non-infringement and invalidity of the ‘727 patent.
Biotech Stock News
According to the Court’s decision, Mylan will not be able to obtain FDA approval for its generic version of Angiomax until the expiration of the ’727 patent or until it receives a favorable decision on appealing the court’s ruling.
We are encouraged by the Court’s ruling in favor of The Medicines Co. Angiomax is the company’s lead product and accounted for 88.1% of the total revenues in the first nine months of 2014. The earlier-than-expected entry of generic versions of Angiomax would have been a major setback for the company
Biotech Financial News
he Medicines Company’s (MDCO) shares were up 16.5% on a favorable court ruling in the company’s patent infringement case against Mylan regarding Angiomax. Mylan is looking to bring its generic version of Angiomax to the market before patent expiry. However, with the court ruling in The Medicines Co.’s favor, Mylan cannot gain FDA approval for its generic version until the patent expires (2028) or it gets a favorable decision on appealing the court’s ruling.
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