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

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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Letterkenny’ Producer New Metric Media Teams With The Feldman Agency For Live Entertainment CompanyNew Metric Media, the Toronto and Los Angeles-based producers of award-winning Hulu/Crave comedy series “Letterkenny” and Netflix/CityTV drama “Bad Blood,” has partnered wit…
Source: Variety - 🏆 108. / 63 Read more »

Oil prices at five-month high on big drop in U.S. crude stocksOil prices rose to their highest since early March on Wednesday after data showed a big drop in U.S. crude inventories, although concerns that mounting coronavirus infections will lead to reduced fuel demand capped gains. Make the most of this you permabull vested interest charlatans Driving season more than half way through. Supply increasing. Demand not coming back fully. Storage still an issue going forwards. And don't forget another wave of virus in 3 months time. Il vont voir flou ces american's boomer
Source: Reuters - 🏆 2. / 97 Read more »