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Wednesday, February 5, 2020

-=Biogen (BIIB) : major patent win against Mylan (MYL)

  •  Biogen  won a long-awaited decision in a patent case defending its multiple sclerosis drug Tecfidera against a challenge by Mylan.
  • In a decision issued Wednesday, administrative patent judge Sheridan K. Snedden wrote that Mylan (MYL) had failed to show that parts of a key patent protecting Tecfidera were unpatentable, as the company had claimed.

Biogen stock rocketed Wednesday after reports suggested U.S. patent officials agreed to uphold the patent covering Tecfidera, an important multiple sclerosis drug.

In midday trading on the stock market today, shares of Biogen (BIIB) surged 22.7%, near 347.60. That pushed Biogen stock into a breakout, above a buy point at 318.10 out of a consolidation.

Mylan (MYL) and Biogen have been engaged in a patent battle over Tecfidera for years. So, the patent decision by U.S. officials has been a major point of contention for Biogen stock. According to various posts on Twitter, officials upheld the patent on Tecfidera for another eight years.

As a result, Mylan won't be able to launch a generic challenger to the blockbuster drug until 2028, according to various reports. This would be a huge boon for Biogen stock. Meanwhile, Mylan stock rose 3.4%, near 23.

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