Replies to post #38921 on Biotech Values

[DewDiligence]

>MDCO's counsel should be fired anyway maybe the ceo too.<

Actually, the old CEO was fired—not for flubbing the patent extension but rather for sexual harassment of a coworker.

>Anyone know if the new bill would make patent extensions longer than 5 years?<

The possible bill mentioned in today’s MDCO SEC filing does not alter the formula for Hatch-Waxman patent extensions—it merely allows the PTO to overlook a clerical error such as the one that MDCO made.

>In europe its 10 years.<

The 10-year period you are referring to is the statutory period of data exclusivity in the EU for a new drug, which is entirely separate from patent protection. Regards, Dew

[DewDiligence]

MDCO reaches $214M contingent settlement with the law firm that negligently filed one day past the deadline for statutory extension of the US Angiomax patent:

http://finance.yahoo.com/news/The-Medicines-Company-and-iw-1411854858.html?x=0&.v=1

The $214M payment kicks in only if the FDA approves a generic Angiomax prior to 6/15/15, the date to which the US Angiomax patent would have been extended if the request for an extension had been filed with the US PTO on time. What’s notable about this settlement amount is that it exceeds the insurance coverage of the law firm, WilmerHale.