mylan inc (MYL) Key Developments
Mylan Inc. Loses Patent Fight over MS Drug
Jan 21 15
The Supreme Court ruled against Mylan Inc. and other firms in their challenge of Teva Pharmaceutical Industries' patents for a blockbuster multiple sclerosis drug. The justices ruled 7-2 that a federal appeals court wrongly overturned five of Teva's patents for the drug Copaxone, which generates about $4 billion in annual sales for Teva. The majority told a lower court to reconsider a ruling invalidating the patents. The decision allows the Israel-based company to keep its exclusive rights to Copaxone until September, delaying generic competition from Mylan and the other companies. And it gives Teva more time to shift patients to a longer acting version that won't face competition until 2030. Teva had argued that the U.S. Court of Appeals for the Federal Circuit should not have second-guessed factual findings made by a federal district court that had ruled in Teva's favor. The Supreme Court agreed that the Federal Circuit should have deferred to factual findings made by the lower court. The other companies involved in the case are Momenta Pharmaceuticals Inc. and Sandoz Inc.
Mylan Reportedly In Talks With Famy Care
Jan 21 15
Mylan, Inc. (NasdaqGS:MYL) is in advanced discussions to acquire Famy Care Ltd. from JP Taparia family in a deal estimated at over $500 million, The Times of India reported citing people familiar with the matter. JP Taparia family had appointed Credit Suisse AG to explore strategic options for Famy Care Ltd. Bain Capital, LLC and Advent International Corporation were also the potential suitors. An emailed query to Mylan, Inc.'s spokesperson Nina Devlin remained unanswered at the time of going to press. An external spokesperson for Famy Care Ltd. said that the company has retained Credit Suisse AG but nothing has been finalized yet. And any talk about a deal currently is in the realm of speculation.
Mylan Inc. Launches Generic Version of Hepatitis B Virus Infection Drug in U.S
Jan 15 15
Mylan Inc. announced the U.S. launch of its Lamivudine tablets, 100 mg, which are indicated to treat chronic hepatitis B virus infection associated with evidence of hepatitis B viral replication and active liver inflammation. Lamivudine tablets are the generic version of GlaxoSmithKline's (GSK) Epivir-HBV.
Mylan Inc. Announces the U.S. Launch of 100 mg - Lamivudine Tablets
Jan 15 15
Mylan Inc. announced the U.S. launch of its Lamivudine Tablets, 100 mg, which is the generic version of GlaxoSmithKline's Epivir-HBV. Mylan received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for this product, which is indicated for the treatment of chronic hepatitis B virus infection associated with evidence of hepatitis B viral replication and active liver inflammation.
Mylan Mulls Acquisitions
Jan 13 15
Mylan, Inc. (NasdaqGS:MYL) is looking for acquisitions. Chief Executive Officer, Heather Bresch stated, “So taking now the significant financial flexibility we believe just continues to add that momentum and really accelerates some of these growth opportunities both from an organic, as well as an acquisition perspective.”