Wednesday, February 21, 2018

Merck Falls After $2.54 Billion Gilead Verdict Is Tossed; Bloomberg, February 20, 2018

Susan Decker and Christopher Yasiejko, Bloomberg; Merck Falls After $2.54 Billion Gilead Verdict Is Tossed

"Merck & Co. fell after a federal judge tossed a record $2.54 billion verdict it had won against Gilead Sciences Inc. over a hepatitis treatment.
A federal jury in 2016 had said that Gilead owed Merck 10 percent of the sales of its Sovaldi and Harvoni hepatitis C drugs. District Court Judge Leonard Stark in Wilmington, Delaware, agreed Friday with Gilead’s argument that the Merck patent was invalid...
The verdict was the largest patent-infringement verdict in U.S. history, dwarfing the next biggest, a $1.67 billion verdict won by Johnson & Johnson against Abbott Laboratories that was later thrown out on appeal, according to data compiled by Bloomberg.
The case is Idenix Pharmaceuticals LLC v. Gilead Sciences Inc., 14-846, U.S. District Court, District of Delaware (Wilmington)."

No comments: