Corporate News Blog - Aralez Announced District Court Decision to Uphold VIMOVO Patents
LONDON, UK / ACCESSWIRE / June 29, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Aralez Pharmaceuticals Inc. (NASDAQ: ARLZ), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ARLZ. The Company announced on June 27, 2017, that the United States District Court for the District of New Jersey upheld the validity of two patents owned by a subsidiary of Aralez and licensed to Horizon Pharma PLC, over VIMOVO (naproxen/esomeprazole magnesium). The dispute arose over the case that Dr. Reddy's, Lupin, or Mylan would infringe at least one of the two patents, with their proposed generic naproxen/esomeprazole magnesium products. For immediate access to our complimentary reports, including today's coverage, register for free now at: http://protraderdaily.com/register/.
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The Announcement
This upholds of validity of the two patents follows the patent infringement lawsuits filed by an Aralez's subsidiary on April 21, 2011, July 25, 2011, and June 28, 2013, in District Court against Dr. Reddy's, Lupin, and Mylan, respectively, related to the Abbreviated New Drug Applications (ANDA) filed with the FDA to market generic versions of VIMOVO. The lawsuits filed denotes infringement claim of US Patent Nos. 8,557,285 ('285 patent) and 6,926,907 ('907 patent) titled "Pharmaceutical Compositions for the Coordinated Delivery of NSAIDs," which cover VIMOVO. The District Court's decision was made based on the validity of the '285 and '907 patents for VIMOVO and the Court's judgment will prevent Dr. Reddy's, Mylan, and Lupin from launching generic versions of VIMOVO in the United States until at least the expiration of the relevant patent.
The Company views this announcement as a fair and appropriate ruling regarding the litigation. The Company stated that the ruling demonstrates the strength of its portfolio of VIMOVO and Yosprala, while it remains committed aggressively to defend its intellectual property portfolio.
What is VIMOVO?
VIMOVO is a fixed combination of naproxen, a non-steroidal anti-inflammatory drug, and esomeprazole, a proton pump inhibitor (PPI) indicated for the relief of signs and symptoms of osteoarthritis, rheumatoid arthritis, and ankylosing spondylitis and to decrease the risk of developing gastric ulcers in patients at risk of developing NSAID-associated gastric ulcers. The drug decreases the risk of developing gastric ulcers in patients at risk of developing NSAID-associated gastric ulcers. The drug VIMOVO is not interchangeable with the individual components of naproxen and esomeprazole magnesium.
VIMOVO currently has 14 Orange Book listed patents with terms that exceed up to 20131. The '907 patent is also listed in the Orange Book for Yosprala (aspirin/omeprazole) and has been asserted against Teva Pharmaceuticals US, Inc., (NYSE: TEVA) in a separate patent infringement case.
Company Growth Prospects
Aralez recently announced on June 07, 2017, the national commercial launch of Zontivity (vorapaxar) in the US. Zontivity is the only antiplatelet therapy that inhibits PAR-1 mediated platelet aggregation in response to thrombin. Zontivity is a once-daily agent indicated for the reduction of thrombotic CV events in patients with a history of myocardial infarction in patients with the peripheral arterial disease. This announcement came on the heels of the commencement of phased launch of Zontivity on April 24, 2017, utilizing 15 sales representatives deployed to high volume physicians who treat post-MI and PAD patients.
On May 09, 2017, the Company announced its guidance as it expects net revenues to be in the range of $80 million to $100 million for the year ending December 31, 2017.
Last Close Stock Review
At the close of trading session on Wednesday, June 28, 2017, Aralez Pharma's stock price rose 1.50% to end the day at $1.35. A total volume of 364.56 thousand shares were exchanged during the session. The Company's shares advanced 8.00% in the last one month. At Wednesday's closing price, the stock's net capitalization stands at $83.54 million.
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