Supernus Pharmaceuticals Inc SUPN, a specialty pharmaceutical company that develops treatments for central nervous system diseases, were trading higher by more than 3 percent on Monday.
Supernus Pharmaceuticals announced earlier in the morning that Judge Renee Marie Bumb of the United States District Court for the District of New Jersey ruled that Actavis Inc. and its subsidiaries infringed on two of the company's patents.
The two patents consist of U.S. Patent Nos.7,722,898 and 7,910,131
Supernus Pharmaceuticals added that the 2 patents cover its Oxtellar XR and ANDA therapies. As such, the court ruling determined that Actavis' submission to the FDA to market a generic version of Oxtellar XR is not permissible.
A third patent, U.S. Patent No. 8,617,600 was also ruled to be valid.
Supernus Pharmaceuticals 3 patents expire on April 13, 2027.
"We are pleased with the court's ruling that Actavis will infringe two of our patents on Oxtellar XR, and the finding that all three patents are valid," stated Jack Khattar, President and Chief Executive Officer of Supernus Pharmaceuticals. "We will continue to vigorously defend our novel products and build upon our strong intellectual property to provide our products the protection they are entitled to."
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