Cephalon sues Mylan and Teva over key US Amrix patent
This article was originally published in Scrip
Executive Summary
Cephalonand Eurandhave filed suit in a US district court in Delaware against Barr PharmaceuticalsandMylan Laboratories, alleging patent infringement related to their generic versions of the muscle relaxant Amrex (cyclobenzaprine HCl) extended-release capsules, thus triggering the 30-month stays of approval while the legal challenge is fought. The brand companies claim infringement of Eurand's US patent covering the extended-release product, No 7,387,793, which is the only Orange Book-listed patent for the product, expiring in February 2025. Barr and Mylan have filed paragraph IV challenges to the patent, claiming that the patent is invalid, unenforceable and/or will not be infringed by its manufacture, and Mylan claims it has first-filer status.
You may also be interested in...
ChemoCentryx cuts price to get $45M IPO away
ChemoCentryx has successfully completed its initial public offering on Nasdaq, raising $45 million to help support its multiple R&D programmes. It sold 4.5 million shares at $10, a somewhat less ambitious debut than it had originally planned in January when it wanted to sell four million shares at $14-$16. The reduced offer is a sign of the challenging nature of the IPO market, but ChemoCentryx's assessment of its own worth was at least closer to the market’s assessment that Cempra which got its IPO away on 6 February at valuation that was less than two-thirds of that implied by its initial prospectus (scripintelligence.com, 7 February 2012).
Ampio raises $16.9M as it advances PhIII premature ejaculation drug
Ampio Pharmaceuticals, a development-stage company, initially raised $15 million which was boosted to $16.9 million by the exercise of overallotments by brokers. The shares were offered at $3.25, an 8.5% discount to the closing price of $3.66 on 12 July. The market pushed them down slightly further to 3.21 on 13 July.
Money talks: Verastem leverages IPO to build cancer stem cell pipeline
Verastem, a cancer stem cells startup, has moved quickly to build its pipeline just five months after an initial public offering. Management at the Cambridge, Massachusetts firm believes that recent moves have accelerated Verastem's clinical development plans by a year.