Mapi Pharma Granted United States Patent Covering The Process For The Preparation Of Fingolimod For Multiple Sclerosis

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NESS ZIONA, Israel--(BUSINESS WIRE)--Mapi Pharma Ltd. (“Mapi” or the “Company”), a developer of high-barrier to entry and high value-added generic drugs that include complex active pharmaceutical ingredients (“APIs”), formulations and life cycle management (“LCM”) products that target large markets, announced today that it was granted a United States patent covering the process for the preparation of Fingolimod, a drug currently marketed by Novartis under the trade name Gilenya. Novartis reported sales of Fingolimod of $1,934 million in 2013, representing a 62.0% increase from 2012. With the issuance of this patent, Mapi intends to develop a generic version of Fingolimod for sale once Novartis loses its marketing exclusivity, commencing as early as 2017 in certain markets.

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