A US district judge for Eastern Texas,William Bryson,has tossed out Allergan's patents on its blockbuster dry eye treatment Restasis,which has been marketed by a long-running TV commercial campaign.The judge said the patents were based on obvious ideas.He additionally disliked Allergan's attempt to shield the patents by transferring the rights to the St.Regis Mohawk Indian tribe in New York State last month-a move Members of Congress have also criticised.Allergan's rivals have been seeking the ruling,led by Mylan NV and Teva Pharmaceutical Industries.*
The ruling may clear the way for other drugmakers to produce generic versions of Restasis.*
Last year,Restasis generated 10% of Allergan's revenue and 15% of its profits.The company,through its chief legal officer,Robert Bailey,said it was disappointed in the decision and was considering all of its options.*
As of time of publication,Allergan was down 3.51%;Teva had dropped 1.84%;while Mylan rose 0.59%.*
Allergan plc (AGN),Mylan NV (MYL),Teva Pharmaceutical Industries Ltd ADR (TEVA)
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