Pernix rockets on patent litigation win

US specialty pharma firm Pernix Therapeutics (Nasdaq: PTX) saw its shares skyrocket by 42.7% to $3.91 by mid-morning today on news of a favorable patent infringement case against Actavis Laboratories, part of Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) regarding a proposed generic version of opioid pain treatment Zohydro ER (hydrocodone bitartrate).

The latest ruling on Zohydro ER is a change of fortune for Pernix, which earlier this month lost out in its arbitration dispute with UK pharma major GlaxoSmithKline (LSE: GSK), related to the migraine treatment Treximet (sumatriptan/naproxen sodium).

Judge Gregory Sleet of the US District Court for the District of Delaware concluded that Actavis’ proposed generic versions of Zohydro ER infringe US Patent Nos 9,132,096 (which expires on September 12, 2034) and 6,902,742 (which expires on November 1, 2019) following a trial that took place in October 2016. The Judge has entered an order enjoining Actavis from engaging in the commercial manufacture, use, offer to sell, or sale in the USA, or importation into the USA of Actavis’ Abbreviated New Drug Application (ANDA) product prior to expiration of the two patents. Actavis did not assert invalidity or unenforceability of the patents at trial.