U.S. patent office rules in favor of Biogen over Mylan for MS drug
- Biogen Inc’s shares surged as much as 32% on Wednesday after the drugmaker won a favorable U.S. patent ruling for its main multiple sclerosis drug Tecfidera in a battle with Mylan NV.
The Patent Trial and Appeal Board, an administrative court run by the U.S. Patent And Trademark Office, ruled that Mylan had failed to demonstrate that some claims were not patentable. “The stock will surely move higher on the headline news and even higher over time, as the decision today makes it easier for investors to own for Alzheimer’s later in 2020-21”, said Jefferies analyst Michael Yee.
The company is “actively preparing for the potential launch of aducanumab with an initial focus on the United States,” Chief Executive Officer Michel Vounatsos said on the company’s earnings call last week.While the ruling will extend Tecfidera’s patent into 2028, Wedbush analyst Laura Chico questioned the ability of the patent to withstand further challenges.There will still likely be an appeal and also a separate generic litigation court case, Jefferies analyst Yee said.
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