What's Going On With Pfizer Stock On Thursday?

GSK Plc GSK has reportedly taken legal action against Pfizer Inc PFE and BioNTech SE BNTX in a Delaware federal court, alleging patent infringement concerning mRNA technology used in the COVID-19 vaccines. 

The lawsuit contends that Pfizer and BioNTech’s Comirnaty vaccines violate GSK’s patents.

Pfizer responded, expressing confidence in its intellectual property position regarding Comirnaty and asserting its intent to defend against GSK’s claims. 

Reuters highlighted that GSK emphasized that its patents underpin the technology used in Pfizer and BioNTech’s COVID-19 mRNA vaccines. The company was willing to license these patents under reasonable terms to ensure ongoing vaccine access.

This lawsuit contributes to a series of high-stakes legal battles in the U.S. involving Pfizer, BioNTech, and Moderna MRNA regarding patent royalties for vaccine technology. 

GSK seeks unspecified monetary damages from Pfizer and BioNTech, including ongoing patent licensing fees. 

The complaint highlights that GSK’s patents encompass technology for delivering mRNA into human cells, a development initiated in 2008 and acquired through its purchase of part of Novartis AG’s NVS vaccines business in 2015.

Moderna is set to clash with Pfizer and BioNTech in a pivotal London patent trial concerning the development of COVID-19 vaccines. 

The High Court is slated to address a legal complaint brought by Moderna. It alleges patent infringement by its competitors in utilizing the mRNA platform crucial to vaccine development, a claim Pfizer and BioNTech have refuted by asserting patent invalidity.

Last August, GSK sued Pfizer in Delaware court, alleging that Pfizer’s respiratory syncytial virus (RSV) vaccine Abrysvo violates GSK’s four patent rights in its RSV shot Arexvy.

In the lawsuit, GSK said that Pfizer began working on its RSV program as early as 2013, at least seven years after GSK.

Price Action: PFE stock is down 3.48% at $25.34, GSK shares are down 0.09% at $40.83, and BNTX stock is down 1.50% at $86.77 at the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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