Novartis (NVS +1.7%) is up, albeit on below-average volume, on the heels of a favorable ruling by a Delaware court agreeing with the company that generic drugmaker HEC Pharm Co., Ltd.’s marketing application for a generic version of MS med Gilenya (fingolimod) infringes on a Novartis patent that expires in 2027. The judge also upheld the validity of the patent.
The company sued almost two dozen generic drug firms in 2018 for patent infringement but has reached confidential settlements with most.
Gilenya accounted for 8% of its Q2 Innovative Medicine sales ($738M/9,188M).
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