Mylan Scores Final Win In Patent Challenge On Inhalation Drug

Editor's note: A rumor broke at 2:20 p.m. ET that Teva Pharmaceutical is considering a bid for Mylan. Story to come.

Mylan NV MYL got its patent on its obstructive pulmonary treatment upheld by an appeals court Friday, beating back a challenge from generic drug maker Teva Pharmaceutical Industries Ltd. TEVA.

Mylan, which last week unveiled an unsolicited $30 billion offer to acquire Perrigo Company PRGO, traded recently at $67, up $0.21 cents.

Teva had fallen sharply on Thursday after Novartis AG NVS obtained regulatory approval for a generic version of Teva's copaxone multiple sclerosis treatment.

On Friday, Mylan said the U.S. Court of Appeals for the Federal Circuit upheld the validity and infringement of all four patents protecting its Perforomist inhalation treatment for chronic obstructive pulmonary disease.

Mylan launched the product in 2007 as part of its specialty segment which accounted for $1.19 billion of the company's $7.72 billion in 2014 revenue.

Teva had appealed a federal court ruling of March 2014 upholding the Perforomist patents.

Posted In: NewsLegal
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