Nuvo Pharmaceuticals Inc. (Nuvo or the Company) (TSX:NRI; OTCQX:NRIFF), a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products, today announced that the United States Court of Appeals for the Federal Circuit reversed the decision by the United States District Court for the District of New Jersey related to certain Vimovo patents
MISSISSAUGA, ON, May 15, 2019 /PRNewswire/ - Nuvo Pharmaceuticals Inc. (Nuvo or the Company) (TSX:NRI; OTCQX:NRIFF), a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products, today announced that the United States Court of Appeals for the Federal Circuit reversed the decision by the United States District Court for the District of New Jersey related to certain Vimovo patents. This ruling reverses the decision made on July 10, 2017 involving patents U.S. Patent Nos. 6,926,907 (“the ‘907 patent”) and 8,557,285 (“the ‘285 patent”). “We are disappointed by the Court’s decision, as we continue to believe that our U.S. Vimovo patents are valid. We are reviewing the decision with our partner Horizon Therapeutics and will consider all future options,” said Jesse Ledger, Nuvo’s President & CEO. Mr. Ledger commented further, “This decision does not impact our ex-U.S. patents or related royalty streams for Vimovo.” About Nuvo Pharmaceuticals Inc. Forward-Looking Statements Forward-looking statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Such forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations which are difficult to predict and many of which are beyond the control of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the Company as of the date of this press release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Material factors and assumptions used to develop the forward-looking statements, and material risk factors that could cause actual results to differ materially from the forward-looking statements, include but are not limited to changes in the business or affairs of Nuvo, competitive factors in the industries in which Nuvo operates; relationships with customers and suppliers; changes in legal and regulatory requirements; foreign exchange and interest rates; prevailing economic conditions; and other factors, many of which are beyond the control of Nuvo. Additional factors that could cause Nuvo’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risk factors included in Nuvo’s most recent Annual Information Form dated March 28, 2019 under the heading “Risks Factors”, and as described from time to time in the reports and disclosure documents filed by Nuvo with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on Nuvo’s forward-looking statements. When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. All forward-looking statements are based only on information currently available to the Company and are made as of the date of this press release. Except as expressly required by applicable Canadian securities law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements in this press release are qualified by these cautionary statements. View original content to download multimedia:http://www.prnewswire.com/news-releases/nuvo-pharmaceuticals-announces-that-us-court-of-appeals-for-the-federal-circuit-reverses-district-courts-decision-related-to-certain-vimovo-patents-300850938.html SOURCE Nuvo Pharmaceuticals Inc. | ||
Company Codes: OTC-QX:NRIFF, Toronto:NRI |