Patent turnaround puts $1.2 billion back in Gilead's pocket

In the USA, an appeals court has overthrown an earlier ruling against Gilead Sciences (Nasdaq: GILD), a decision which could save the company $1.2 billion in fines.

The ruling comes at the expense of Bristol Myers Squibb (NYSE: BMY), the New York-based cancer giant, which was in line to receive the payment following an earlier court decision.

The case concerns Yescarta (axicabtagene ciloleucel), a leading CAR T-cell therapy developed by Gilead unit Kite, and which Bristol Myers said infringed a patent for one of its products, originally developed by Juno Therapeutics.