UPDATE: Glaxo (GSK) wins appeals court ruling over Biogen Idec (BIIB) cancer patent
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(Updated - April 16, 2013 12:50 PM EDT)
Biogen Idec, Inc. (Nasdaq: BIIB) and Roche's (OTCBB: RHHBY) Genetech lost an appeal made in a patent infringement case against GlaxoSmithKline (NYSE: GSK).
The U.S. Court of Appeals for the Federal Circuit in Washington said a U.S. judge was correct with his interpretation of a Biogen patent covering the cancer drug Arzerra. Based on the judge's definition, Glaxo was ruled to not have infringed the patent.
Shares of Biogen and Glaxo are both higher on the session Tuesday.
Biogen Idec, Inc. (Nasdaq: BIIB) and Roche's (OTCBB: RHHBY) Genetech lost an appeal made in a patent infringement case against GlaxoSmithKline (NYSE: GSK).
The U.S. Court of Appeals for the Federal Circuit in Washington said a U.S. judge was correct with his interpretation of a Biogen patent covering the cancer drug Arzerra. Based on the judge's definition, Glaxo was ruled to not have infringed the patent.
Shares of Biogen and Glaxo are both higher on the session Tuesday.
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