Pfizer Inc. (PFE) Financial News - Skowron, Lockhart, Liquor Tax, Credit Suisse, Viagra Patent: Compliance
Pfizer Inc. (PFE)
Skowron, Lockhart, Liquor Tax, Credit Suisse, Viagra Patent: Compliance
2011-08-16 02:21:57
Quote: Courts
Pfizer Wins Viagra Patent-Infringement Case Against Teva
Pfizer Inc. (PFE)Teva Pharmaceutical Industries Ltd. (TEVA) from marketing a generic
version of the impotence drug Viagra until 2019.
U.S. District Judge Rebecca Beach Smith in Norfolk,
Virginia, ruled Aug. 12 against Petach Tikva, Israel-based Teva,
which claimed the patent wasn’t valid and couldn’t be enforced.
“Teva has not shown by clear and convincing evidence that
the patent is invalid,†Smith said in a 110-page opinion. In
addition, “there is utterly no evidence†to support Teva’s
claim that that Pfizer intentionally withheld documents from the
U.S. Patent and Trademark Office, Smith wrote.
“Protecting the intellectual property rights of our
innovative core is critical,†Amy Schulman, Pfizer’s general
counsel, said in a statement. “Friday’s court decision
acknowledges Teva’s clear violation of our patent rights.â€
Denise Bradley, a Teva spokeswoman, declined to comment on
the ruling.
“While we expect Teva to appeal, the ruling represents a
clear positive for Pfizer,†said Christopher Schott, a New
York-based analyst for JPMorgan Chase & Co., in a note to
clients yesterday. He said the ruling is worth about 3 cents to
Pfizer’s 2012 earnings per share and about 6 cents to annual
earnings per share through 2019.
The case is Pfizer v. Teva, 10-cv-128, U.S. District Court,
Eastern District of Virginia (Norfolk).
Ex-Optionable Chief Admits to Scheme to Hide Bank Losses
Optionable Inc. (OPBL)Bank of Montreal. (BMO)
Cassidy, 52, pleaded guilty yesterday in Manhattan federal
court to one count of conspiracy to commit wire fraud. The judge
set a Dec. 15 sentencing date.
The case stems from C$680 million ($690.5 million) of
pretax commodity-trading losses the bank announced in April
2007. Those losses grew to C$853 million for the fiscal year,
paring profit by C$440 ...Open whole article (external link)