Gilead Sciences, Inc. GILD patent application for its hepatitis C drug Sovaldi was rejected by the Indian patent office Wednesday, according to Reuters.
"The application had been opposed by Indian generic drugmaker Natco Pharma Ltd and New York-based Initiative for Medicines, Access & Knowledge (I-MAK) on the grounds that the drug, chemically called sofosbuvir, is not inventive enough compared with a previous formulation,” according documents seen by Reuters.
The patent rejection was seen as an opportunity for local drugmakers to launch lower-priced generic versions of the drug, which can cost $84,000 for a 12-week treatment course in the United States.
Gilead Sciences recently traded at $98.97, up 1.76 percent.
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