Shire Patent Upheld After Challenge by Hedge Fund Manager Bass

Shire Plc’s only patent on its colitis drug Lialda was upheld after a U.S. patent agency review requested by hedge fund manager Kyle Bass.

The Patent Trial and Appeal Board conducted its yearlong review to determine if the patent, owned by Cosmo Pharmaceuticals NV and licensed to Shire, covered a new invention. Bass and his Coalition for Affordable Drugs had petitioned to have the patent deemed invalid.

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