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4-Traders Homepage  >  Equities  >  Swiss Exchange  >  Novartis    NOVN   CH0012005267

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 2018 52 590 M
EBIT 2018 13 229 M
Net income 2018 10 415 M
Debt 2018 13 548 M
Yield 2018 3,92%
P/E ratio 2018 15,70
P/E ratio 2019 18,62
EV / Sales 2018 3,94x
EV / Sales 2019 3,78x
Capitalization 193 B
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 90,3 $
Spread / Average Target 19%
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Managers
NameTitle
Vasant Narasimhan Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
Harry Werner Kirsch Chief Financial Officer
John Tsai Chief Medical Officer
Srikant Madhav Datar Independent Non-Executive Director
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