Teva's Copaxone Patent Loses Again

The U.S. Court of Appeals has again ruled that Teva Pharmaceuticals Ltd.'s patent for its blockbuster multiple-sclerosis treatment Copaxone is invalid.

Shares of Teva fell about 2% in midday trading. A spokesperson said that Teva is "committed to pursuing all legal pathways including seeking further appellate review."

In January, the U.S. Supreme Court had reversed an appeals-court ruling that had invalidated Teva's patent for Copaxone, which generated more than $3.1 billion in sales in the U.S. last year. It said that the Federal Circuit must be more deferential in reviewing certain factual determinations made by trial judges, and sent the case back to lower courts. The Copaxone patent was set to expire Sept. 1.

In April, the Food & Drug Administration approved a generic version of Copaxone that allowed Momenta Pharmaceuticals and the Sandoz unit of Novartis AG to sell knockoff versions.

Another drug company, Mylan NV, said Thursday that "we remain very confident in our application for our generic version of Copaxone and look forward to bringing our product to market upon approval" by the FDA.

Teva is in the process of trying to take over Mylan, as Mylan itself has made moves to buy Perrigo Co. Mylan Chief Executive Heather Bresch said Thursday's ruling "underscores concerns with Teva's ongoing financial prospects."

A Teva spokesperson said such comments were "meritless" given that the company planned for generic competition and recently completed the U.S. launch of the 40-milligram dose of Copaxone.

Write to Angela Chen at [e-mail]

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