RANCHO CUCAMONGA, Calif., March 21, 2018 (GLOBE NEWSWIRE) -- Amphastar Pharmaceuticals, Inc. (AMPH) announced that on March 20, 2018, the United States Court for the District of Massachusetts (the “District Court”) entered final judgment in favor of Amphastar in a lawsuit brought by Momenta Pharmaceuticals, Inc. and Sandoz Inc. The District Court held that Amphastar is “the prevailing party” in the case and affirmed the jury verdict, dated July 21, 2017, holding that the claims of Momenta’s U.S. Patent No. 7,575,886 (the “Patent”) are invalid because the claims are not enabled and lack written description. The District Court’s final judgment also determined that based on its conduct before the U.S. Pharmacopeia (the “USP”), Momenta and Sandoz had waived their ability to enforce the Patent and were also estopped from enforcing the Patent in connection with Amphastar’s testing procedure per a USP method.
On March 20, 2018, the District Court also denied Momenta’s and Sandoz’s motion to dismiss Amphastar’s antitrust lawsuit relating to Momenta’s and Sandoz’s anticompetitive conduct before the USP and the District Court provided a schedule for the antitrust lawsuit with a jury trial set for September 9, 2019.
Amphastar's CEO, Dr. Jack Zhang, stated: "We are very happy to receive the Court’s final judgment in Amphastar’s favor as well as the Court’s denial of Momenta’s and Sandoz’s motion to dismiss our antitrust lawsuit. We can now proceed to file a motion to collect the $100 million bond in the patent case and proceed to assert our treble damages under antitrust law. ”
So what are we possibly talking, $200mil to $300mil in profits X 3. No problem. Bonus's for everyone.
