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 02:21:57Quote: 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 wasnâ€™t valid and couldnâ€™t be enforced. â€œTeva has not shown by clear and convincing evidence that the patent is invalid,â€ Smith said in a 110-page opinion. In addition, â€œthere is utterly no evidenceâ€ to support Tevaâ€™s claim that that Pfizer intentionally withheld documents from the U.S. Patent and Trademark Office, Smith wrote. â€œProtecting the intellectual property rights of our innovative core is critical,â€ Amy Schulman, Pfizerâ€™s general counsel, said in a statement. â€œFridayâ€™s court decision acknowledges Tevaâ€™s clear violation of our patent rights.â€ Denise Bradley, a Teva spokeswoman, declined to comment on the ruling. â€œWhile we expect Teva to appeal, the ruling represents a clear positive for Pfizer,â€ 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 Pfizerâ€™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 ...
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