Forward goes 11% backwards on blockbuster IP ruling
Danish biopharma Forward Pharma (Nasdaq: FWP) says it is considering its options after the US Court of Appeals for the Federal Circuit denied the company rights to royalties relating to the blockbuster multiple sclerosis drug Tecfidera (dimethyl fumarate).
The court upheld the March 2017 decision of the Patent Trial and Appeal Board, which had found that the patents held by US biotech major Biogen (Nasdaq: BIIB) on Tecfidera were valid.
In case the ruling had gone the other way, Biogen had agreed to pay Forward $1.25 billion in January 2017 to license the company’s patents covering its multiple sclerosis drug.
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