The previous week proved to be quite eventful for Mylan NV (NASDAQ:MYL). Reports claim that the company had taken the court’s way to protect one of its respiratory medicines that faced a stiff competition from another pharmaceutical company.
What’s In For The Company:
The U.S. Court of Appeals took company’s side and supported four patents of a medicine named Perforomist inhalation solution against Teva Pharmaceutical LLC. Teva had planned to get the final approval based on the previous patents that would expire in June 2021. The entire information was made public by Mylan through a public statement.
The company stated that the decision backed the decision made by a district court based in Northern District of West Virginia in March 2014. The topic of discussion at that time was whether Teva’s new drug application had violated the patents of Mylan or not. The court took Mylan’s side in the past, and it has done the same this time. The U.S. Court of Appeals has favored Mylan’s patents covering Perforomist Inhalation Solution, which is a clear indication of how strong the company is when it comes to safeguarding its intellectual property. It had put in a lot of efforts to protect these patents, and the end-result is something it can cherish in the future.
The management of the company is delighted by this decision. According to Heather Bresch, Chief Executive Officer, Mylan said that it was a wonderful decision by the court and would motivate the company to continue offering excellent services in the future as well. The company is excited about the exponential growth in the respiratory franchise and looks forward to continuing the same pace in the future as well.
The market experts call it a good decision at the perfect time. It will not only help the company grabbing a good position in the market, but also motivate its management to perform good in the coming days.