Jury Awards Merck $200M In Hep C Patent Dispute
There will be a separate hearing to to determine what Gilead Sciences owes the company in royalties. In other pharmaceutical news, lawmakers ask Valeant investor William Ackman to provide information on drug prices.
The Wall Street Journal:
Gilead To Pay Merck $200 Million In Damages Over Hepatitis C Drug Patents
A federal jury in California ordered Gilead Sciences Inc. to pay Merck & Co. and a partner $200 million for infringing two Merck patents in a case involving Gilead’s two blockbuster drugs for treating hepatitis C, Merck said Thursday. The award follows the jury’s decision on Tuesday upholding the validity of two patents held by Merck and its partner Ionis Pharmaceuticals Inc. that Merck says should entitle the companies to a portion of the sales of Gilead’s drugs Sovaldi and Harvoni. (Winslow, 3/24)
Ackman's Hedge Fund Cooperating With U.S. On Drug Pricing Probe: Letter
Billionaire investor William Ackman, whose hedge fund is one of the biggest investors in drug company Valeant, has been asked to supply information to U.S. legislators probing price hikes in the pharmaceutical industry. Ackman told investors in his Pershing Square Capital Management on Thursday that the firm received a request on Friday from the U.S. Senate Special Committee on Aging as part of an investigation into pricing of off-patent drugs. (Herbst-Bayliss, 3/24)