Competitor to Amgen's Repatha Gets ReprieveThursday, February 9, 2017
Amgen Inc.’s cholesterol drug Repatha will continue to have competition for the time being.
The U.S. Court of Appeals on Wednesday stayed an injunction that would have prevented Regeneron Pharmaceuticals Inc. and Sanofi from selling their rival drug Praluent as the companies appeal the injunction, according to Reuters.
Last month, the U.S. District Court in Delaware approved Amgen’s request for a permanent injunction, blocking the distribution of Praluent due to infringement of two Amgen patents.
The Thousand Oaks biotech brought suit against New York-based Regeneron and French pharma Sanofi in late 2014, and in 2016, Amgen’s patents were deemed valid.
Amgen shares closed down Thursday 65 cents, or less than a percent, to $167.47 on the Nasdaq.