Legal
Shares of Mallinckrodt are down more than 45% in premarket trading after multiple reports indicate the company plans a restructuring in the wake of the opioid crisis that has promoted a number of lawsuits that implicate the company for its sales practices in the United States.
In the BioSpace poll, 55.17% of respondents said, Yes, companies should be allowed to sue competitors to prevent generic versions of their drugs, and 41.38% said no. A much smaller group, 3.45%, said they were unsure.
Citing unnamed sources “familiar with the matter,” Reuters said that the company will have no choice but to file for bankruptcy should a settlement not be agreed upon.
In an ongoing battle between Regeneron Pharmaceuticals and Sanofi versus Amgen over PCSK9 inhibitors to treat high cholesterol, a U.S. district court invalidated Amgen’s patents for Repatha.
According to “people familiar with the matter,” the company and its owners, the Sackler family, are plotting out a way to end the vast number of lawsuits filed against the company over its marketing practices for OxyContin and other opioid products.
Between J&J, Purdue ($270 million), and Israel-based Teva Pharmaceuticals ($85 million), Oklahoma will garner about $927 million – a far cry from the $20 billion the state had been seeking in damages related to the opioid crisis.
Adocia announced that the American Arbitration Association Tribunal governing Adocia’s arbitration claims against Eli Lilly & Company dismissed both parties’ claims in the second and final phase of the arbitration between Adocia and Lilly.
Leaders from across the pharmaceutical industry are decrying negative actions taken by government agencies and universities against Chinese researchers in the United States.
Eli Lilly won an arbitration hearing over accusations the Indianapolis-based company misused confidential information regarding the intellectual property of its former business partner, France-based Adocia S.A.
Novo Nordisk filed a lawsuit in a Delaware district court against generic drugmaker Mylan. The suit is an attempt to block Mylan from marketing a generic version of Novo Nordisk’s diabetes drug Victoza.
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