Coherus says U.S. Patent Office to review AbbVie's Humira

Stephen NewmanLast Update : Tuesday 17 May 2016 - 6:25 PM
Coherus says U.S. Patent Office to review AbbVie's Humira

<span class="articleLocation”>Coherus BioSciences Inc said on Tuesday the U.S. Patent and Trademark office had agreed to review its petition to make a copy of AbbVie Inc’s top-selling arthritis drug Humira.

Such reviews, known as Inter Partes Reviews (IPRs), allow anyone to challenge the validity of a patent far more cheaply and quickly than going through the U.S. federal court system.

Companies have taken advantage of the procedure in unexpectedly high numbers since it was put in place in 2012.

Shares of Coherus, which specializes in developing biosimilars, were up 15 percent at $18.81 on Tuesday morning. AbbVie shares were down 3.6 percent at $60.23.

AbbVie did not immediately respond to a request for comment.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Ted Kerr)

Source: Reuters Health

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2016-05-17 2016-05-17
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Stephen Newman