if the blood was really bad, they would have tried to announce the appeal during the financing!
Actavis must have 1000 lawyers on retainer they are fighting battles everywhere..throw in NY State Attorney also
Preponderance of evidence supports DEPO's I.P. Actavis will try to use indefiniteness (based on Supreme Court's recent ruling) to support their case of non-infringement. IMHO, DEPO will prevail and countersue to collect attorney's fees. It appears that there's bad blood between these two companies, perhaps dating back to their partnership with Cipro, which was never really marketed.
What do they want to appea? 23 out of 24 claims contructions went in favor of DEPO. If you read Judge Pisnao's opinion, it was very thorough and well reasoned. DEPO will petition the Court to recapture attorneys fees and court costs.
Very happy to see that but actavis appealed judge decision on generic entry to higher court which is a surprise to me they dont give up
Depomed says FDA recognizing 7 years orphan-drug exclusivity for Gralise in PHN
Depomed (DEPO) disclosed in a filing that on September 16 the company received a letter from the FDA informing the company that pursuant to the order issued on September 5 by a judge of the U.S. District Court for the District of Columbia, the FDA is recognizing seven years of orphan-drug exclusive approval for the company’s Gralise for the management of postherpetic neuralgia. The letter also confirms the FDA will not approve any abbreviated New Drug Application referencing Gralise during the period of orphan-drug exclusive approval, which began on January 28, 2011. The FDA has 60 days after issuance of the order in Depomed, Inc. v. HHS to file a notice appealing the order to the United States Court of Appeals for the Federal Circuit. The period of orphan drug exclusivity applicable to Gralise for PHN is separate from marketing exclusivity arising from the previously disclosed decision issued on August 19 in the company’s patent litigation lawsuit against Actavis (ACT) related to an ANDA filed by Actavis seeking to market generic versions of Gralise. The decision found that Actavis infringed all seven of the company’s patents asserted in the litigation, upheld the validity of the patents and enjoined FDA approval of the Actavis ANDA until February 26, 2024, the latest expiration date of the infringed patents. On September 15, Actavis filed a notice appealing the decision to the United States Court of Appeals for the Federal Circuit, Depomed stated. Previously disclosed settlement agreements between the Company and two other Gralise ANDA filers permit the sale of generic Gralise beginning on January 1, 2024.
Speaking as someone who has held a very large (millions of shares -- you can choose to believe that or not, but it's true) DEPO position over more than a decade, I have been consistently amazed at this company's ability to #$%$ defeat from the jaws of victory. Yeah, we're at $15 now -- finally. People were expecting this stock to run up to $20 in 2006. Instead, we visited $1.80.
I'm happy to have exited most of my position at this point -- over a decade, it did a little better than the benchmark. But it was a very bumpy ride. I hope, for all of your collective sakes, that the next ten is better. But the best predictor of future behavior is past behavior. In DEPO's case, that's not a particularly great prognosis. I understand that a lot of you are high on the recent run. Enjoy it. But remember this post.
Just reported in formal 8k filing by PURE:
The owner of Subway, the largest food chain in the world, through Franchise Brands, LLC, just invested $4million in PURE Bioscience as a strategic investment. This strongly implies that some very large restaurant chains will soon start buying “SDC” in very large quantities. Do you think it might be the 45,000 restaurant Subway?
Several other major QSR’s are likely to follow soon.
PURE is very STRONG BUY because they have almost $8 million in cash, the biggest breakthrough in food safety in decades using biotechnology, and revenues that are about to explode.
Sentiment: Strong Buy
Anyone watching the CBS Evening News saw the report on Actavis/Forest engaging in a forced switch of Namenda ($1.5 billion in sales) to a sustained release form as generic competition comes in. Can't blame them for trying to protect their franchise, but the news report made them look quite sleezy.
Depomed vs. Actavis. This is a 97 pp opinion, very thorough and well written. The judge gives a scathing review of Actavis' defense and belittles their expert witnesses. Depomed had aound 8 expert witnesses and even subpoened pharmacologists who once worked for Actavis. Some of the language is actually humorous. If they choose to appeal by Friday, I would think they would only embarass themselves.