Pfizer Shares Up on Lipitor Patent Win

0

Pfizer Inc. shares climbed more than 11 percent Monday morning after last week’s court ruling that upheld the patent on the company’s best selling drug, cholesterol-lowering agent Lipitor.


Last Friday, District Judge Joseph J. Farnan Jr. ruled in Delaware federal court that Indian pharmaceutical company Ranbaxy Laboratories Ltd.’s generic version of Lipitor infringes on two Pfizer patents. He said the New Delhi-based company failed to prove Pfizer’s patents were invalid or unenforceable.


The ruling heads off the chance that Ranbaxy will be able to launch a cheaper version of Lipitor before Pfizer’s patents expire in 2010 and 2011.


*

Read the full Associated Press story

.

No posts to display