ARTICLE | Company News

TMC jumps after court upholds Angiomax patent

October 29, 2014 4:41 AM UTC

The Medicines Co. (NASDAQ:MDCO) jumped $3.67 (17%) to $25.86 on Tuesday after the U.S. District Court for the Northern District of Illinois ruled that an ANDA filed by Mylan Inc. (NASDAQ:MYL) seeking approval of a generic version of Angiomax bivalirudin infringes on a patent held by The Medicines Co. (TMC).

The ruling prevents Mylan from seeking FDA approval of its generic until TMC's patent expires in 2028 or until it successfully appeals the decision. Mylan filed to appeal on Tuesday. ...