AMGEN WINS EPOGEN SUIT RIVAL TRANSKARYOTIC TO APPEAL DECISION.Byline: Brent Hopkins Staff Writer A Massachusetts company violated three of the patents held by Thousand Oaks-drugmaker Amgen, a federal judge ruled Friday, ending a four-year battle over rights to the anti-anemia drug Epogen. Amgen and Transkaryotic Therapies Inc. have locked horns stemming from Amgen's 1997 suit alleging that Transkaryotic's production methods infringed upon intellectual property rights. U.S. District Court Judge William Young William Young may refer to:
``We are relieved, but we knew that we had a very strong position all along,'' said Amgen spokesman Jeff Richardson. TKT TKT Ticket TKT Transketolase TKT Twisted Kaiju Theater (web forum) TKT T Kang Taekwondo (New York) TKT Thin Kerf Technologies issued a statement indicating future legal challenges. ``Although we were disappointed by today's ruling, we are grateful to Judge Young's long and intensive efforts on this case,'' said Richard F. Selden, Transkaryotic's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , in a statement. ``We are confident that our position remains strong and intend to appeal this decision.'' Selden predicted future legal successes. ``Furthermore, we congratulate Amgen on the initial ruling in the case,'' he stated. ``But we look forward to competing with them to provide patients with the best possible product after a successful appeal.'' Transkaryotic, partnered with pharmaceutical heavyweight Hoechst Marion Roussel, specializes in the manufacture of alternative versions of popular drugs. The Cambridge, Mass., firm offers drugs aiding in the treatment of hemophilia A hemophilia A n. Hemophilia due to deficiency of factor VIII, characterized by prolonged clotting time, decreased formation of thromboplastin, and diminished conversion of prothrombin. , Fabry disease and Hunter syndrome Hunter syndrome Mucopolysaccharidosis type II Molecular medicine An X-R inborn error of metabolism caused by a deficit of sulfoiduronate or iduronosulfate sulfatase Clinical Type A–early onset is associated with a large skull, coarse facial features, profound . Epogen, also known by its generic name generic name n. 1. The official nonproprietary name of a drug, under which it is licensed and identified by the manufacturer. 2. erytrhopoietin, has been a top seller for Amgen, which employs 5,000 workers locally, bringing in more than $1.76 billion in sales for fiscal year 1999. This makes up a sizable portion of the company's income, Richardson said. ``It's our biggest seller,'' he said. The ruling caused a frenzy of after-hours trading after-hours trading The trading of securities after the exchanges are closed. After-hours trading often refers to trading a listed security in the over-the-counter market after the exchanges have been closed for the day. , with Amgen shares skyrocketing $12.75 to $72.75, CBSMarketwatch reported. The stock has suffered after Transkaryotic reported it would be competing with Amgen, but rebounded dramatically after Friday's decision. Amgen praised the ruling in a statement by chairman and chief executive officer Kevin Sharer. ``Meaningful patent protection is fundamental to innovative research companies,'' Sharer said. Analysts agreed, claiming the decision as an industrywide in·dus·try·wide adv. & adj. Throughout an entire industry: sales that have decreased industrywide; industrywide cooperation. victory to patent protection across the board. |
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