According to latest reports, A U.S. federal appeals court had allowed Sanofi SA (ADR)(NYSE:SNY) and partner Regeneron Pharmaceuticals (NASDAQ:REGN) to keep selling their cholesterol drug while they trial a patent-infringement ruling by a lower court that threatened to stop sales.
The verdict, by the Court for the Federal Circuit, gives the two firms a temporary amnesty from a trial court’s ruling last month finding their drug Praluent violated patents held by rival Amgen Inc.
Meanwhile both Sanofi SA (ADR)(NYSE:SNY) and Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) admired the decision for warranting patients could keep getting Praluent while the lawsuit endures, and voiced confidence in their prospects on appeal. “It is our longstanding position that Amgen’s asserted patent claims are invalid,” the companies said in a statement.
Deprived of the pleas court’s decision, Sanofi and Regeneron would have been blocked from selling Praluent in the U.S. while they kept combating the patent-infringement case. The verdict doesn’t mean, the firm will eventually triumph.
“Amgen remains confident in the validity of our patents and the correctness of the jury verdict and district court’s judgment,” a company spokeswoman said. “We look forward to presenting our case on the lack of merit in” the appeal by Sanofi (NYSE:SNY) and Regeneron (NASDAQ:REGN).
Moreover Praluent and Amgen’s competing drug Repatha, each recognized for sale in 2015, belong to a new class of cholesterol fighters known as PCSK9s. Analysts initially anticipated the drugs to be multibillion-dollar sellers, but health-insurance plans have limited use, somewhat because of their price tags.