Amgen (AMGN +5.5%) is up on almost double normal volume in response to a favorable ruling in its Enbel (etanercept) patent dispute with Novartis (NVS-0.2%) unit Sandoz.
Sandoz is challenging the validity of two patents that Amgen licensed from Roche that will, if ultimately upheld, protect the tumor necrosis factor blocker from biosimilar competition through 2029.
Opinion from the New Jersey district court.
Amgen statement.
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