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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 CET

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 2018 52 000 M
EBIT 2018 13 373 M
Net income 2018 8 890 M
Debt 2018 18 067 M
Yield 2018 3,46%
P/E ratio 2018 21,75
P/E ratio 2019 19,80
EV / Sales 2018 4,76x
EV / Sales 2019 4,55x
Capitalization 229 B
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 93,2 $
Spread / Average Target 6,3%
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Managers
NameTitle
Vasant Narasimhan Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
André Wyss President-Novartis Operations
Harry Kirsch Chief Financial Officer
Srikant Madhav Datar Independent Non-Executive Director
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