Teva plans appeal after Mylan invalidates Copaxone patents
The US Patent and Trademark Office (PTO) has ruled in favor of Netherlands-incorporated Mylan (Nasdaq: MYL) by invalidating two of Teva Pharmaceutical Industries' (NYSE: TEVA) patents for the multiple sclerosis (MS) treatment Copaxone (glatiramer acetate).
Teva, which saw its share price decline by nearly 3% to $51.63 in light of the news on Wednesday, immediately announced plans to appeal against the decision.
The patents which were ruled to be unpatentable during the inter partes review (IPR) proceeding related to Copaxone 40mg/mL. They are owned by Yeda Research and Development and are licensed to fellow Israeli company Teva.
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