Biogen Loses Bid To Revive Tecfidera Drug Patent: Bloomberg

Biogen Inc BIIB lost its appeals court bid to revive a key patent on the blockbuster multiple sclerosis drug Tecfidera, reports Bloomberg.

• In a related ruling, the court also affirmed a decision by a review board within the U.S. Patent and Trademark office.
• "Viewing the record before us in its totality, we discern no clear error in the district court's judgment that Mylan established its burden of showing, by clear and convincing evidence, that the asserted ’514 Patent claims are invalid for lack of written description," U.S. Circuit Judge Jimmie Reyna wrote.
• The patent covers the twice-daily pill at a dose of 480 milligrams, but a federal judge in June 2020 ruled that the patent application didn't make that clear when it was first filed. 
• Viatris Inc VTRS, formerly Mylan NV, began selling a generic version of Tecfidera after winning the ruling in federal court in West Virginia.
• A Biogen spokesperson said the company "is disappointed with this decision, which is specific to the United States."
• Price Action: BIIB shares are down 1.27% at $233.12 during the market session on the last check Tuesday.