AstraZeneca is top riser on FTSE 100 after a patent win
PHARMACEUTICAL giant AstraZeneca has won a landmark patent dispute in the US, sending its shares up almost nine per cent on the news.
US judge Joseph Farnan, who sits in the district of Delaware, ruled that the patent on AstraZeneca’s cholesterol drug Crestor was “valid and enforceable”.
The conclusion of the three-year court battle now means that AstraZeneca can sell the drug in the US without the competition from generic and cheaper drugs companies for the next six years.
“We are pleased with the court’s decision upholding the validity and enforceability of the patent. The court’s decision reaffirms the strength of the intellectual property protecting Crestor,’’ said David Brennan, AstraZeneca chief executive.