Biotech Values

[DewDiligence]

Re: Court Rules in Amgen's Favor in TKT Litigation:

[TKTX plans to appeal the lower court’s decision again, but this time I think they may be out of aces.]

http://biz.yahoo.com/prnews/041015/nyf133_1.html

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TKT to Appeal Dynepo Ruling to Federal Circuit

CAMBRIDGE, Mass., Oct. 15 /PRNewswire-FirstCall/ -- Transkaryotic Therapies, Inc. (Nasdaq: TKTX - News) announced today that the U.S. District Court of Massachusetts issued a ruling in a patent infringement suit involving Dynepo(TM) (epoetin delta), its Gene-Activated® erythropoietin product for the treatment of anemia, which is being developed with Sanofi-Aventis in the United States. The District Court found that certain claims of four patents held by Amgen Inc. are valid and infringed. TKT intends to appeal the District Court's decision to the U.S. Court of Appeals for the Federal Circuit.

"Courts should not create thirty-five year monopolies by allowing companies to radically expand their patent claims more than a decade after filing an application. I believe today's decision misreads the law, discourages innovation, exports biotechnology manufacturing jobs overseas, and denies patients in the United States an important alternative product," said Michael J. Astrue, President and Chief Executive Officer of TKT. "We will appeal."

In January 2003, the Federal Circuit issued a decision affirming in part and reversing in part the District Court's initial January 2001 decision and remanding the case for further proceedings. The Federal Circuit instructed the District Court to reconsider infringement and validity of certain of Amgen's patents.

[List of patents omitted here –please see the PR.]
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