Novartis Shares Lifted by Prospect of Gilenya Exclusivity in US -- Update
12 Luglio 2018 - 7:07PM
Dow Jones News
By Donato Paolo Mancini
Novartis AG's (NOVN.EB) closed higher on Thursday after jumping
on news of a ruling that suggested that market exclusivity for the
company's multiple-sclerosis blockbuster drug Gilenya in the U.S.
will likely be extended.
"A favorable resolution of the dosage regimen patent litigation"
may lengthen the period in which the drug is free from generic
competition, according to a Novartis document seen by Dow Jones
Newswires.
The note was sent out at around midday Thursday, two analysts
told Dow Jones, and shares started climbing around that time. One
of the analysts said the market wasn't expecting the decision, so
that sent the share price up.
According to the document, the Patent Trial and Appeal Board of
the U.S. Patent and Trademark Office issued a decision upholding
the validity of the dosage-regimen patent on Wednesday. The
decision can be appealed, the document said.
Gilenya had sales of $3.19 billion in 2017, according to the
company's annual report.
Novartis said it was pleased with the decision, and that it
expected to maintain exclusivity until August 2019.
Shares closed up 4.1% at CHF78.94.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com
(END) Dow Jones Newswires
July 12, 2018 12:52 ET (16:52 GMT)
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