ARTICLE | Company News
Federal judge invalidates four Restasis patents
October 16, 2017 9:16 PM UTC
On Monday, Allergan plc (NYSE:AGN) sank $7.11 to $198.41 after a federal judge invalidated four patents covering its dry-eye drug Restasis cyclosporine. Although the court found that Allergan proved its case that a handful of generic drug companies infringed on its patents, it said the defendants "proved by clear and convincing evidence that the asserted claims of the Restasis patents are invalid for obviousness."
Allergan filed the suit in 2015 against Mylan N.V. (NASDAQ:MYL; Tel Aviv:MYL), Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; Tel Aviv:TEVA) and Akorn Inc. (NASDAQ:AKRX) in the U.S. District Court in the Eastern District of Texas to prevent the companies from launching generic versions of Restasis...