Friday, December 10, 2010 11:41:46 AM
Teva Wins Copaxone Protection
Sep. 7 2010 - 1:42 pm
http://blogs.forbes.com/matthewherper/2010/09/07/teva-wins-copaxone-protection/?partner=yahootix
Shares in Teva, the world’s biggest generic drug company, are up 2% on news that a judge rejected a motion to declare patents on the company’s multiple sclerosis drug Copaxone invalid. The motion was brought by Novartis and Momenta Pharmaceuticals, who are seeking to launch a generic version.
Novartis and Momenta alleged that the lack of information about the molecular weight of the molecules rendered the patents unenforceable, according to a note to investors by Sanford C. Bernstein analyst Ronny Gal. Gal wrote that the rise in Teva shares is justified, because the ruling puts off the U.S. entry of a generic Copaxone until at least 2012.
But Gal also wrote that he thinks Novartis and Momenta stand a better chance of winning on the argument that Teva’s patents are obvious under prior art, an argument to which the Copaxone patents are “potentially susceptible.” Momenta’s attempts to create generics of complicated, injectible drugs is being closely watched because it has bearing on what generic versions of biotech protein drugs will look like. Momenta was one of the worst-performing biotech stocks last month, but the stock is up 60% over the past 12 months due to the approval of its generic version of the blood thinner Lovenox, made by Sanofi-Aventis
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