Celgene, Hayman Capital Management cancer news
Celgene filed four motions with the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office requesting sanctions to dismiss inter partes review (IPR) petitions submitted by the Coalition for Affordable Drugs. The Coalition, controlled by hedge fund manager Kyle Bass, filed the IPR petitions in April to invalidate two of Celgene’s patents on Revlimid lenalidomide. Celgene markets the thalidomide analog to treat mantle cell lymphoma (MCL), multiple myeloma (MM) and myelodysplastic syndromes (MDS). The company reported $1.7 billion in U.S. sales and $2.8 billion in worldwide sales of Revlimid for the six months ended June 30 (see BioCentury, April 27).
In its motions, Celgene accused the coalition of using the IPR process to manipulate the stock prices of public companies. Celgene also alleged that before the IPRs were filed, someone associated with the Coalition had attempted to obtain payment from Celgene in exchange for withholding the petitions. Celgene asked the board to dismiss the petitions as a sanction against the Coalition “for their abuse and improper use” of IPR proceedings. ...