Eli Lilly's Migraine Drug Infringed Teva's Patents, Ordered To Pay $176M - Eli Lilly and Co (NYSE:LLY)

A federal jury has asked Eli Lilly And Company LLY to pay Teva Pharmaceuticals International GmbH $176.5 million after a trial to determine whether its migraine drug Emgality infringed three Teva patents.
The jury agreed with Teva that Lilly's Emgality violated its rights in the patents, which relate to its migraine drug Ajovy.
The jury also found that Lilly infringed the patents willfully and rejected its argument that the patents were invalid, Reuters reported.
A spokesperson for Lilly said the company was disappointed by the verdict but is confident that it will "ultimately prevail" in the case and said the decision does not affect its ability to offer Emgality to patients.
A Teva spokesperson said the company is pleased with the decision and will "continue to defend its intellectual property rights vigorously."
Teva sued Lilly over the patents in 2018. The same day Teva sued, the court dismissed two related Teva lawsuits seeking to block Emgality from coming onto the U.S. market.
Teva also filed a separate, ongoing patent lawsuit against Lilly in Massachusetts over Emgality last year.
Price Action: LLY shares closed at $362.50 on Wednesday.
Photo by Okan Caliskan from Pixabay