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Bristol-Myers, Pfizer stocks rise on blood-thinner patent win

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Bristol-Myers Squibb Co. undefined shares rallied in the extended session Wednesday after a federal judge ruled for it and Pfizer Inc. undefined in a key...

Bristol-Myers Squibb Co. BMY, +0.37% shares rallied in the extended session Wednesday after a federal judge ruled for it and Pfizer Inc. PFE, +0.15% in a key patent fight over a blood thinner. Bristol-Myers shares surged 4.4% after hours, following a 0.4% rise to close at $59.69. Pfizer shares advanced 1.5% after hours, following a 0.2% gain to close at $38.45. In a ruling Wednesday, a federal judge said that products made by Sigmapharm Laboratories LLC, Sunshine Lake Pharma Co.

infringed patents protecting the blood-thinner Eliquis,, which is generically known as apixaban. Bristol-Myers and Pfizer have a profit-sharing agreement on the drug."While subject to appeal, at present the generic manufacturers currently involved in the case cannot launch their apixaban products until 2031," said a Bristol-Myers Squibb spokewoman in emailed comments.

 

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