Regeneron Pharmaceuticals Inc. rose the most since August after a court ruled that the drugmaker’s patent rights were infringed by a cheaper copy of its eye drug developed by Viatris Inc.
The Viatris copy violates a Regeneron patent on its Eylea medication, according to the ruling Wednesday from the US District Court for the Northern District of West Virginia. Regeneron shares rose as much as 5.9% in New York, the most intraday since Aug. 3, while Viatris was little changed.
Regeneron sued Viatris’ Mylan unit in August 2022, alleging that its proposed biosimilar copy of Eylea infringed 24 patents for the retinal-disease treatment. The suit was later pared to three patents. Eylea sold about $9.65 billion last year, almost half of Regeneron’s total revenue.
Regeneron and Viatris didn’t immediately respond to requests for comment.
The case number is 1:22-cv-61.
https://finance.yahoo.com/news/regeneron-gains-eye-drug-patent-204003402.html
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