Teva 'Disappointed' In Court's Patent Decision

In the latest development in the court battle between Eli Lilly And Co (NYSE: LLY) and Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA) over an Alimta patent, the U.S. Court of Appeals ruled that Teva was liable for inducing patent infringement by physicians.

This decision supported that of a lower court, which issued a ruling in August 2015 granting Teva five years of exclusive ownership of the cancer drug.

"We are disappointed with the Court's decision," a Teva spokesperson told Benzinga.

For Eli Lilly, the victory was a positive turning point in its battle against patent infringements. The company previously lost its fight for exclusive rights to Alimta in the European Union.

Eli Lilly shares were up 2 percent at $76.96, while Teva shares were down 0.23 percent on Thursday.