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SCOTUS to hear Teva appeal on Copaxone patent

March 31, 2014 11:42 PM UTC

The U.S. Supreme Court agreed to hear an appeal by Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) of an appeals court ruling that will end exclusivity for the biotech's multiple sclerosis (MS) drug Copaxone glatiramer acetate on May 24. Last year, the U.S. Court of Appeals for the Federal Circuit invalidated a process patent covering Copaxone that was set to expire on Sept. 1, 2015. Teva recorded 2013 U.S. Copaxone sales of $3.2 billion (see BioCentury Extra, July 26, 2013).

Teva originally filed suit against the Sandoz International GmbH generics unit of Novartis AG (NYSE:NVS; SIX:NOVN) alleging an ANDA for a generic version of Copaxone infringed on Teva's patents. Sandoz's generic is partnered with Momenta Pharmaceuticals Inc. (NASDAQ:MNTA), which fell $2.36 (17%) to $11.65 on Monday. Mylan Inc. (NASDAQ:MYL), which also submitted an ANDA to FDA for a generic Copaxone, was unchanged at $48.83 on the day. Mylan's generic is partnered with Natco Pharma Ltd. (BSE:NATCOPHAR; NSE:NATCOPHARM). ...