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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mylan NV | NASDAQ:MYL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.855 | 15.71 | 15.90 | 0 | 01:00:00 |
By Brent Kendall
WASHINGTON-The U.S. Supreme Court on Tuesday reversed an appeals court ruling that invalidated a Teva Pharmaceutical Industries Ltd. patent on the blockbuster multiple-sclerosis drug Copaxone, giving the drug maker a new opportunity to forestall generic competition.
The court, in a 7-2 opinion by Justice Stephen Breyer, said a specialized appeals court that reviews patent cases must be more deferential in reviewing factual determinations made by trial judges who preside over patent infringement litigation.
In the Copaxone dispute, a New York trial judge in 2011 upheld the validity of a Teva patent on the drug that didn't expire until September 2015. The judge barred generic-drug challengers including Novartis AG's Sandoz unit and Mylan Inc. from entering the market until the patent expired. The U.S. Court of Appeals for the Federal Circuit reversed that ruling in 2013 and found the patent invalid.
The Supreme Court sent the case back to the lower courts for more proceedings.
The ruling breathes new life into Teva's efforts to keep generic competitors from entering the Copaxone market until the September patent expiration.
Meanwhile, Teva has been trying to migrate patients to a higher-dose Copaxone that is covered by patents that don't expire until 2030.
Justices Clarence Thomas and Samuel Alito dissented.
Teva shares rose 2% to $58.90 in morning trading following the ruling.
Write to Brent Kendall at brent.kendall@wsj.com
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