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4-Traders Homepage  >  Equities  >  Nyse  >  Merck & Co., Inc.    MRK

Delayed Quote. Delayed  - 07/29 10:00:35 pm
58.66 USD   +0.39%
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US Judge Upholds Validity Of Merck's Vytorin Patent

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04/28/2012 | 12:29am CEST

--Judge rules U.S. patent for Vytorin and Zetia is valid and enforceable

--Mylan had challenged patent in bid to sell generic Vytorin and Zetia

--Merck patent due to expire in April 2017

(Adds statement from Merck, additional details.)

 
   By Peter Loftus 
   Of  
 

A federal judge has upheld the validity of a U.S. patent covering Merck & Co.'s (>> Merck & Co., Inc.) cholesterol-lowering drugs Vytorin and Zetia, which could stave off competing generic copies for several years.

In an opinion released Friday, U.S. District Judge Jose Linares in federal court in Newark, N.J., said the patent for was valid and enforceable. The patent covers ezetimibe, an active ingredient in both Zetia and Vytorin.

Merck, based in Whitehouse Station, N.J., said the U.S. patent for Vytorin and Zetia is due to expire in April 2017.

"The court appropriately ruled that the patent for Zetia and Vytorin in the U.S. is valid and enforceable," Bruce N. Kuhlik, executive vice president and general counsel of Merck, said in a press release.

Mylan Inc. (MYL) had applied for U.S. Food and Drug Administration approval to sell generic versions of Vytorin and Zetia before the patent expired, arguing that the patent was invalid and unenforceable.

Merck filed a patent-infringement lawsuit against Mylan in late 2009, seeking to block Mylan's plan to sell generic Vytorin, and in 2010 sued to block Mylan from selling generic Zetia. A trial was held in December 2011, leading to Judge Linares's opinion Friday.

Merck said the court also issued an injunction blocking the approval of Mylan's generic versions until the expiration of the patent.

A Mylan spokeswoman couldn't immediately be reached for comment.

Earlier Friday, Merck reported first-quarter Vytorin sales of $444 million and Zetia sales of $614 million.

Merck previously reached a settlement of patent litigation for Zetia with generics manufacturer Glenmark Pharmaceuticals. The pact will allow Glenmark to sell generic Zetia in December 2016, subject to final regulatory approval.

-By Peter Loftus, Dow Jones Newswires; 215-982-5581; peter.loftus@dowjones.com

Stocks mentioned in the article : Merck & Co., Inc.
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Financials ($)
Sales 2016 39 492 M
EBIT 2016 13 526 M
Net income 2016 6 428 M
Debt 2016 3 946 M
Yield 2016 3,16%
P/E ratio 2016 25,58
P/E ratio 2017 19,62
EV / Sales 2016 4,20x
EV / Sales 2017 4,19x
Capitalization 161 736 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 61,9 $
Spread / Average Target 5,9%
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NameTitle
Kenneth C. Frazier Chairman, President & Chief Executive Officer
Robert M. Davis Chief Financial Officer & Executive Vice President
Michael A. Rosenblatt Chief Medical Officer & Executive Vice President
Clark Golestani Chief Information Officer & Executive VP
Thomas Henry Glocer Independent Director
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