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NOVARTIS (NOVN)
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Novartis : Argentum Pharmaceuticals Succeeds in Starting Patent Cancellation Trial Against Novartis's AFINITOR

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10/04/2017 | 10:25am CEST

Release date- 02102017 - NEW YORK - The U.S. Patent & Trademark Office (PTO) on September 25, 2017 granted Argentum Pharmaceuticals LLC's petition for inter partes review (IPR) against all claims of the last-expiring patent listed as covering Novartis Pharmaceuticals' AFINITOR (everolimus tablet) drug in the Food & Drug Administration's Orange Book.

Argentum challenges claims 13 of Novartis's U.S. Patent No. 9,006,224, which the Orange Book states will expire in 2028. The PTO concluded that Argentum has established a 'reasonable likelihood that [Argentum] would prevail with respect to claims 1-3' of the patent. The decision marks the beginning of an IPR trial that will be conducted by three specialist patent judges within the PTO's Patent Trial & Appeal Board. A final decision on patentability in the IPR is due within 1 year.

About Argentum Pharmaceuticals

Argentum is a generic drug company with core competencies in intellectual property and pharmaceutical operations. By working with branded and generic pharmaceutical companies and healthcare payors, Argentum intends to reduce the overall cost of prescription drugs by challenging patents that are not innovative and which artificially support high drug prices.

Contact:

Email: http://www.argentumpharmaceuticals.com

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Financials ($)
Sales 2017 48 782 M
EBIT 2017 11 549 M
Net income 2017 7 288 M
Debt 2017 17 704 M
Yield 2017 3,30%
P/E ratio 2017 25,51
P/E ratio 2018 21,78
EV / Sales 2017 5,01x
EV / Sales 2018 4,78x
Capitalization 226 B
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Number of Analysts 32
Average target price 87,4 $
Spread / Average Target 1,0%
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Managers
NameTitle
Joseph Jimenez Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
Harry Kirsch Chief Financial Officer
Vasant Narasimhan Chief Medical Officer & Head-Drug Development
Srikant Madhav Datar Independent Non-Executive Director
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