Home > IP News
A U.S. court ruled invalid a patent covering Pfizer Inc's blockbuster Celebrex painkiller, the drugmaker said, giving generic rivals an earlier U.S. entry that analysts estimated could cost the company $3 billion in revenue by the end of 2015.
Pfizer shares closed down 1.4 percent on the New York Stock Exchange.
Pfizer said it would appeal the ruling, made by the U.S. District Court for the Eastern District of Virginia, which invalidated a patent covering how Celebrex is administered to treat osteoarthritis.
Celebrex has annual global sales of about $3 billion, including $2 billion in the United States. It is the fourth-biggest product for Pfizer, which has total annual company sales of about $52 billion.
Pfizer, in its full-year 2014 profit forecast, had assumed Celebrex would maintain its U.S. marketing exclusivity through December 2, 2015 based on the so-called method of use patent, Morningstar analyst Damien Conover said.
To continue reading, click here.
(These latest Intellectual Property (IP) news and events presented here, are prepared and compiled by us, the World Patent & Trademark Law Office (WPTO),for your reference and information)