I have in my trading WL, I'm thinking about making a trade on a rebound, what does the @Multibagger about this?
- The stock of Corcept Therapeutics $CORT (-5.5%) plummeted 25% after the US Court of Appeals for the Federal Circuit ruled that the company's patents were not infringed. Teva Pharm does not infringe the company's patents.
In its decision, the court found "no infringement" of Corcept's US patents covering methods for safely administering Korlym together with strong CYP3A4 inhibitors. This ruling represents a significant legal setback for the pharmaceutical company.
Korlym is one of Corcept's key products and patent protection was critical to maintaining market exclusivity. The court's decision potentially paves the way for Teva Pharm to manufacture generic versions of the drug, which could hurt Corcept's sales.
The ruling comes from the Federal Circuit, which specializes in patent cases and serves as the primary appellate court for such litigation in the United States. Its decisions carry considerable weight in determining intellectual property rights in the pharmaceutical industry.
Investors reacted strongly to the news, sending Corcept's stock plummeting to price in the potential competitive and financial impact of the ruling.
Source: investing.com
