Biogen up 18% on reported favorable patent ruling for Tecfidera

Biogen (BIIB +17.5%) jumps on modestly higher volume in apparent response to or in anticipation of a favorable ruling from the USPTO’s Patent Trial and Appeal Board regarding a challenge to a key patent protecting top selling MS drug Tecfidera (dimethyl fumarate). A decision was expected no later than tomorrow, February 6.

Would-be generic competitor Mylan N.V. (MYL +2.9%) is challenging the validity of the patent, which, if successful, would erase eight years of exclusivity in the U.S.

Tecfidera accounted for ~30% of the company’s sales last year.

https://seekingalpha.com/news/3538715-biogen-up-18-on-reported-favorable-patent-ruling-for-tecfidera