ICN and RNA will be hurt by the court decision favoring generic makers of ribavirin.
Ribapharm Provides Update on Summary Judgment Hearing Regarding Ribavirin Patents
Wednesday July 16, 8:06 am ET
- Central District Court of California rules on summary judgment on ribavirin patent dispute
- Ribapharm expects to appeal the decision and is evaluating additional options
COSTA MESA, Calif., July 16 /PRNewswire-FirstCall/ -- Ribapharm Inc. (NYSE: RNA - News) today announced that the U.S. District Court for the Central District of California issued a memorandum of decision and order that granted defendants, Three Rivers, Geneva Pharmaceuticals and Teva Pharmaceuticals, their motion for summary judgment of non-infringement of the asserted patents in the patent infringement suit brought by Ribapharm and ICN Pharmaceuticals (NYSE: ICN - News). The court did not issue a decision or order on the validity of the Ribapharm and ICN patents.
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Ribapharm's President and Chief Executive Officer Kim D. Lamon, M.D., Ph.D., said, "We are disappointed in the decision to grant a motion for summary judgment with respect to our ribavirin patents, and we expect to appeal the decision through the Federal Circuit Court of Appeals. We are also considering other alternatives. We cannot comment or speculate on the outcome of any appeal or when the generics may come to market. However, we note that the generics cannot come to market until they have regulatory approval, and they would be entering the market at risk while court proceedings are ongoing." |
