Market News

Novartis (NYSE: NVS) Wins Reprieve From U.S. Supreme Court Regarding Gilenya

On Thursday, Novartis (NYSE: NVS) won a reprieve from the U.S. Supreme Court after it put on hold the cancellation of some of Novartis’ patents on the dosage regimen for its multiple sclerosis drug Gilenya, according to a report from Bloomberg Law.

The U.S. Supreme Court’s Chief Justice John Roberts put a stay on the mandate from the US Court of Appeals for the Federal Circuit, which had ruled that many of Novartis’s patent claims were invalid regarding Gilenya. This ruling opened the gates for generic drug makers to sell copies of the drug.

Novartis had argued in its application to the Supreme Court that following a “generic entry of that magnitude, Novartis would no longer be able to sustain the patient-service program that it maintains for patients taking Gilenya.”

Gilenya had sales of around $2.8 billion in 2021 and the company had stated that if generics do launch in the United States, it would have a negative impact on Novartis’ FY22 sales by $300 million.

Novartis stock has declined by 12.8% this year.

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