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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Eli Lilly and Co | NYSE:LLY | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
9.14 | 1.26% | 734.01 | 737.45 | 721.00 | 724.00 | 2,009,365 | 01:00:00 |
Eli Lilly & Co. won a patent case in the U.K. that prohibits competitors from making a generic form of its key Alimta cancer drug before the patent expires in 2021.
Shares of Lilly increased about 1.8% in premarket trading.
The plaintiff, Actavis PLC, may seek permission to appeal to the U.K. Supreme Court. Representatives for the two companies weren't immediately available for comment.
Alimta treats mesothelioma, a rare cancer linked to asbestos exposure. It generated 11% of the company's total revenue in 2012 and consists of two patents. The compound patent covers the basic chemical composition of the drugs. A second patent, the one under review, covers the method of administering Alimta to patients with certain vitamins designed to mitigate side effects.
The Court of Appeals argues that commercializing the generic vitamins as proposed "would constitute indirect infringement by supplying an essential means for putting the patented invention into effect."
It also granted that this ruling covered laws in France, Italy and Spain and reversed prior decisions regarding patents in those countries.
In March, Eli Lilly had lost a similar lawsuit in Germany. Lilly has asked for permission to appeal that ruling.
Write to Angela Chen at angela.chen@dowjones.com
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