Teva 'Disappointed' In Court's Patent Decision

In the latest development in the court battle between Eli Lilly And Co LLY and Teva Pharmaceutical Industries Ltd (ADR) TEVA over an Alimta patent, the U.S. Court of Appeals ruled that Teva was liable for inducing patent infringement by physicians.

This decision supported that of a lower court, which issued a ruling in August 2015 granting Teva five years of exclusive ownership of the cancer drug.

"We are disappointed with the Court's decision," a Teva spokesperson told Benzinga.

For Eli Lilly, the victory was a positive turning point in its battle against patent infringements. The company previously lost its fight for exclusive rights to Alimta in the European Union.

Eli Lilly shares were up 2 percent at $76.96, while Teva shares were down 0.23 percent on Thursday.