Biogen sees European Tecfidera patent revoked

The European Patent Office (EPO) last week revoked US biotech major Biogen’s (Nasdaq: BIIB) European Patent EP2137537, a method of use patent concerning its blockbuster multiple sclerosis drug Tecfidera (dimethyl fumarate).

Biogen said that it will immediately file an appeal as soon as the written decision of revocation from the EPO reaches its office. An appeal can hold up and suspend the revocation for about four years. A Biogen spokesman said that the decision made by the EPO will not affect Biogen’s patents in the USA and other parts of the world.

Unless the situation is resolved, the decision will take a significant effect on Biogen’s balance sheets because Tecfidera accounts for a third of its overall revenue in 2015, when the drug generated sales of $3.6 billion, a year-on-year rise of 24%.