- The U.S. Supreme Court decided not to hear the case related to reinstating the patent of Biogen Inc's BIIB blockbuster drug Tecfidera.
- The ruling clears the way for Viatris Inc VTRS to continue marketing its generic version of the drug, launched more than two years ago.
- The justices turned away Biogen's appeal of a lower court's decision to invalidate the patent.
- Related: These Stocks Are On The Radar After Biogen-Eisai's Surprising Alzheimer's Trial Win.
- Biogen sued Mylan, now part of Viatris, in West Virginia in 2017.
- Reuters reported that Biogen said Mylan's proposed generic version of Tecfidera would infringe its patents. The U.S. District Judge Irene Keeley ruled in 2020 that a key Tecfidera patent was invalid. Mylan launched its generic that August.
- The patent-focused U.S. Court of Appeals for the Federal Circuit upheld the judge's ruling in favor of Mylan in a 2-1 decision, finding that the patent's written description did not clearly outline its treatment method for multiple sclerosis.
- The Federal Circuit decided 7-3 not to have all its judges hear the appeal after the three-judge panel's ruling.
- Recently, Biogen reached a $900 million settlement with a whistleblower who accused the firm of paying doctors bribes to encourage them to prescribe its multiple sclerosis drugs.
- Price Action: BIIB shares are down 0.89% at $264.63 on the last check Monday.
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