Categories AlphaGraphs, Health Care, U.S. Markets News

Allergan, Mylan and other generics beam as Pfizer loses patent war in the UK

It was good news for generic drug firms such as Allergan (AGN) and Mylan (MYL), as pharma giant Pfizer (PFE) lost a long legal battle in Britain regarding the patents surrounding its hit drug Lyrica.

Pain drug Lyrica — generically: pregabalin — rakes in about $5 billion a year for the drugmaker, and the UK apex court ruled against Pfizer affirming a secondary medical use for the medication.

Years of legal bouts in lower courts finally ended with a defeat, and it is more significant now that the secondary pain patent has expired in Europe.

Pfizer, expressing disappointment at the ruling, said that the outcome was a huge blow to medical innovation incentives.

Pfizer third quarter 2018 Earnings Infographic

Pfizer argued that generic drug companies such as Actavis (now, Allergen) and Mylan would be subject to patent infringement on the second patent, despite skinny labeling (generic products labeled only as suitable for treatment of epilepsy and GAD.)

The Supreme Court said it saw Pfizer claims failing “for insufficiency” and overruled the patent plea.

In a gist, the ruling suggests that the patent protection for manufacturing pregabalin — to treat peripheral and central neuropathic pain — was removed.

 

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

ADBE Earnings: Adobe Q1 2024 revenue and profit beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in first-quarter 2024 revenue and earnings. The results also surpassed analysts' forecasts. First-quarter revenues came in at $5.18

Earnings Preview: FedEx (FDX) likely to report higher revenue and profit for Q3

FedEx Corporation (NYSE: FDX) delivered positive earnings performance and margin expansion in the first half of fiscal 2024, despite lower revenues. The cargo giant has been on a path of

Key takeaways from Dollar General’s (DG) Q4 2023 earnings report

Shares of Dollar General Corporation (NYSE: DG) fell over 4% on Thursday despite the company delivering better-than-expected earnings results for the fourth quarter of 2023. The top and bottom line numbers

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top