Regeneron Falls As Court Grants Permanent Injunction For Infringement Of Amgen's Repatha Patents

Regeneron Pharmaceuticals Inc REGN and its partner Sanofi SA (ADR) SNY could come under pressure after a U.S. district court ruled in favor of Amgen, Inc. AMGN in a patent infringement lawsuit.

Lawsuit

The U.S. District Court in Delaware's permanent injunction preventing Regeneron and Sanofi from infringing two patents held by Amgen for Repatha comes on heels of a jury verdict in March 2016 in favor of Amgen in a trial on the validity of two Amgen patents that describe and claim monoclonal antibodies to proprotein convertase subtilisin/kexin type 9.

However, the district court has not made its ruling take effect immediately, giving the defendants a 30-day opportunity to seek expedited review of this decision.

Repatha, a human monoclonal antibody, which increases the number of LDLRs available to clear LDL from the blood, thereby lowering LDL-C levels, by inhibiting the binding of PCSK9 (proprotein convertase subtilisin/kexin type 9) to LDLR (low-density lipoprotein receptor).

Appeal

Meanwhile, Sanofi and Regeneron announced they will appeal the injunction granted for marketing, selling or manufacturing of Praluent in the United States during the term of two Amgen patents.

Sanofi shares were down 3.18 percent, and Regeneron was slumping 5.74 percent in pre-market trading. Amgen was up 3.77 percent.