INDIANAPOLIS (AP) -- Drugmaker Eli Lilly and Co. said Friday a federal appeals court upheld the company's patent on its drug Alimta, protecting the cancer medicine from competition through Jan. 2017.
Alimta is a chemotherapy drug used to treat certain forms of mesothelioma and lung cancer. It brought in $2.46 billion in revenue in 2011, or 10 percent of total revenue for the year, according to the company's annual report. That was up 11 percent from 2010.
The U.S. District Court for the District of Delaware affirmed a prior court ruling that the company's patent on the drug is valid.
Company shares rose $1.28, or 3 percent, to $43.69 in trading.