Barclays Positive on Jazz Pharmaceuticals (JAZZ) On Markman Ruling

September 18, 2012 12:46 PM EDT
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Price: $120.19 -1.02%

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Barclays commented on Jazz Pharmaceuticals (NASDAQ: JAZZ) following the Markman ruling in Jazz's patent litigation with generic challenger Roxane.

"The ruling clearly brought relief, with the Judge's ruling slightly in Jazz's favor regarding the formulation patents (the so-called '431 patent family) and overwhelmingly so regarding the patents over Jazz's proprietary distribution system (the so-called -730 family)," the firm notes. "The favorable outcome for the formulation patents is particularly important because many investors felt that Jazz's position was most vulnerable there. In particular, the Court's rejection of Roxane's proposal to limit pH-adjusting agents to just an "acid or base" is important because makes it more difficult for Roxane to succeed on non-infringement."

Barclays maintained tier Overweight rating and price target of $60.

For an analyst ratings summary and ratings history on Jazz Pharmaceuticals click here. For more ratings news on Jazz Pharmaceuticals click here.

Shares of Jazz Pharmaceuticals closed at $55.29 yesterday.

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