Benzinga - by Vandana Singh, Benzinga Editor.
A Delaware federal jury has determined that AstraZeneca Plc (NASDAQ:AZN) must pay Pfizer Inc (NYSE:PFE) $107.5 million in damages, concluding that AstraZeneca’s blockbuster lung cancer drug, Tagrisso, infringed on Pfizer’s Wyeth unit’s patent rights.
The jury found that AstraZeneca’s Tagrisso violated two patents held by Pfizer, which cover methods for treating cancer using the breast cancer drug Nerlynx.
Also Read: Double Good News For AstraZeneca’s Breast Cancer Drugs.
Puma Biotechnology Inc (NASDAQ:PBYI), which sells Nerlynx under a license from Pfizer, was initially part of the lawsuit but is no longer a plaintiff.
AstraZeneca expressed disappointment with the verdict. Citing the company’s spokesperson, Reuters noted that it is “confident in our IP position in relation to Tagrisso” and plans to “vigorously defend” its rights.
Despite the setback, AstraZeneca maintains that its drug does not infringe on the patents and argues that patents themselves are invalid.
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Pfizer initiated the lawsuit against AstraZeneca in 2021, arguing that Tagrisso’s use of kinase inhibitors to treat cancer mirrored the method used by Nerlynx. In 2023, AstraZeneca reported Tagrisso sales of $5.8 billion.
The case is not yet fully resolved. U.S. District Judge Matthew Kennelly is scheduled to hold a separate bench trial in June to address some of AstraZeneca’s remaining defenses.
This forthcoming trial could alter the outcome of the jury’s decision, adding another layer of uncertainty to the ongoing legal battle.
On Monday, AstraZeneca also announced its plans to build a $1.5 billion manufacturing facility in Singapore to produce antibody-drug conjugates, a category of cancer-killing drugs.
The Singapore Economic Development Board will support the facility, which will be AstraZeneca’s first end-to-end ADC production site.
The company said the facility’s construction will begin by the end of 2024 and should be operational by 2029. It added that it will have zero carbon emissions from its first day of operations.
Price Action: AZN shares are up 0.16% at $77.03 at last check Monday.
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