Shares of Mylan NV (NASDAQ:MYL) ended Friday session in red amid volatile trading. The shares closed down -0.68 points or -1.68% at $39.89 with 5.74 million shares getting traded. Post opening the session at $40.39, the shares hit an intraday low of $39.75 and an intraday high of $40.39 and the price vacillated in this range throughout the day. The company has a market cap of $21.34 billion and the numbers of outstanding shares have been calculated to be 534.91 million shares.
Mylan NV (MYL) on Sept. 1, 2016 announced that the U.S. Patent and Trademark Office (PTO) has ruled in favor of Mylan in its inter partes review (IPR) proceeding and found all claims of U.S. Patent No. 8,969,302, which is owned by Yeda Research & Development Co., Ltd. and licensed to Teva Pharmaceuticals Industries Ltd., unpatentable. This is the third patent related to Copaxone® 40 mg/mL to be found unpatentable in the last week.
On Aug. 24, the PTO’s Patent Trial and Appeal Board (PTAB) found Teva’s first two patents, U.S. Patent Nos. are 8,232,250 and 8,399,413, unpatentable in Mylan’s IPR challenge of these patents.
Mylan CEO Heather Bresch commented, “Through significant investment in research and development and by challenging these invalid patents, we are working to bring a more affordable generic alternative of Copaxone® to market. Challenging patents is just one of the ways that Mylan helps to ensure patient access to medicines. In the last few years alone, Mylan’s patent challenges have allowed earlier access to generic competition for brand products equating to nearly $20 billion in annual brand sales product and reducing more than 60 years of patent life that otherwise could have blocked generics from entering the market.”
On Aug. 15, the PTAB found Mylan’s petition against a fourth Copaxone 40 mg/mL patent, U.S. Patent No. 9,155,776, ineligible for post-grant review for procedural reasons. However, Mylan believes that favorable ruling in the IPR against the ‘302 patent and the earlier favorable rulings in Mylan’s IPRs against the ‘250 and ‘413 patents strongly undermines the ‘776 patent as well. As such, Mylan will proceed with pursuing all avenues to challenge the ‘776 patent.
Mylan believes it is one of the first companies to have filed a substantially complete abbreviated new drug application containing a Paragraph IV certification for a three times per week Glatiramer Acetate Injection 40 mg/mL, and expects to be eligible for 180 days of marketing exclusivity in the U.S. upon final FDA approval.
Shares of Medtronic PLC (NYSE:MDT) ended Friday session in red amid volatile trading. The shares closed down -1.39 points or -1.61% at $84.87 shares getting traded. Post opening the session at $85.91, the shares hit an intraday low of $84.85 and an intraday high of $85.91 and the price vacillated in this range throughout the day. The company has a market cap of $117.28 billion and the numbers of outstanding shares have been calculated to be 1.38 billion shares.
Medtronic PLC (MDT) on September 8, 2016 recognized as one of the world`s leading companies for sustainability with its ranking on the Dow Jones Sustainability North America Index (DJSI North America) for the ninth consecutive year. DJSI North America analyzes companies on a variety of sustainability criteria, including economic performance, environmental stewardship and social responsibility. This adds to the recognition Medtronic received earlier this year through its continued inclusion in the FTSE4Good Index Series.
Medtronic is committed to advancing sustainability by strategically focusing on issues identified as most material to long-term success, including access to healthcare, product quality and patient safety, ethical business practices, responsible supply management, employee engagement and development, human rights, and environmental stewardship.
“We are honored to once again be recognized as a global leader in environmental, social, and corporate governance (ESG) initiatives. Strong and sustainable ESG practices and our efforts to address chronic disease are important drivers of delivering long-term consistent growth for all of our stakeholders,” said Omar Ishrak, Medtronic chairman and CEO. “We are pleased to be recognized for these efforts by our inclusion on the DJSI North America Index.”