Forward Pharma fails in patent interference case against Biogen
Shares of Danish biopharma company Forward Pharma (Nasdaq: FWP) closed down 19.9% at $21.51 in US trading on Friday after a US patent court ruled that Biogen's (Nasdaq: BIIB) patents on its blockbuster multiple sclerosis drug Tecfidera (dimethyl fumarate) are valid.
The ruling by the US Patent Trial and Appeal Board (PTAP) frees US biotech major Biogen from future royalty payments to Forward. Tecfidera generated sales of around $4 billion in 2016. If Biogen had lost the case, it would have had to pay Forward a 10% royalty on Tecfidera sales starting in 2021.
Forward said it commenced development in 2005 of FP187, a proprietary formulation of DMF (dimethyl fumarate) for the treatment of inflammatory and neurological indications, and announced that it intends to file an appeal challenging the PTAP decision.
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