On Friday December 14th, the Court of Appeals for the Federal Circuit announced that it had upheld the District Court in Delaware's finding that biopharmaceutical business AstraZeneca's substance patent protecting Crestor is valid and enforceable.
The ruling follows legal wranglings dating back five years. In 2007, nine generic drug manufacturers filed Abbreviated New Drug Applications (ANDAs) with Paragraph IV certifications of non-infringement, invalidity, or unenforceability with respect to the Crestor '314 substance patent.
AstraZeneca and Shionogi, the owner of the '314 patent, filed patent infringement suits against eight manufacturers who had challenged the '314 substance patent. The suits were consolidated by order of the Judicial Panel on Multidistrict Litigation and tried in the U.S. District Court, District of Delaware.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In June 2010, the US District Court for the District of Delaware found the '314 patent valid and enforceable and infringed by the eight generic defendants.
Following last week's decision, the defendants may seek a rehearing and/or review by the U.S. Supreme Court.
AstraZeneca's share price was down 0.05% to 2,922.50p at 11:45 on Monday morning.
MF
-
Which investment trusts could benefit from lower interest rates?As vehicles for long-term investments, many investment trusts were hit when interest rates rose in 2022. With interest rates expected to fall by the end of the year, could now be the time to invest in one of these unloved sectors?
-
How to protect your personal and financial data from cyber attacksM&S and the Co-op are the latest retailers to suffer from cyber hacks but consumers also need to be vigilant
