Evercore ISI says appeals court decision on Xyrem patents a ‘non-issue’ for Jazz. As previously reported, Evercore ISI analyst Umer Raffat called news that an appeals court found that seven Jazz Pharmaceuticals (JAZZ) patents being challenged by Amneal Pharmaceuticals (AMRX) are invalid a “non-issue,” stating that his quick read of today’s decision shows it all relates to the REMS patents and the core basis for patent life is the valproate patents. He said the patents that were ruled invalid “are not particularly relevant for Xyrem’s patent estate” and he does not find today’s ruling “of much significance.” Raffat keeps an Outperform rating on Jazz shares, which are down 2% to $175.48 in morning trading.
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