Olivier Le Moal A federal judge has upheld a jury verdict from May that found AstraZeneca's ( NASDAQ: AZN ) lung cancer drug Tagrisso (osimertinib) infringes on two patents held by Pfizer's ( NYSE: PFE ) Wyeth unit. A bench trial was held in June on some equitable claims and defenses brought by AstraZeneca, such as "Wyeth had committed acts that would give rise to findings of unclean hands, implied waiver, or patent misuse," according to an SEC filing . AstraZeneca is challenging the verdict and is requesting a new trial.
Pfizer is asking for supplemental damages from Jan. 1 through the date of the judgment. The jury awarded Pfizer $107.
5M in damages for past infringement acts through Dec. 31, 2023. The patents in question, known as the '314 and '162 patents, are exclusively licensed to Puma Biotechnology ( PBYI ) which it uses in its breast cancer drug Nerlynx (neratinib).
Although Puma was dismissed as a co-plaintiff in the case in March, it maintains contractual rights to recover monetary damages in the AstraZeneca ( AZN ) litigation, and those contractual rights are unaffected by the court’s March order. More on Pfizer, AstraZeneca Pfizer: Tracking Well Above The Industry Pfizer Stock: It May Be Just The Beginning Of A Solid Rally AstraZeneca Stock: Upgrading From 'Hold' To 'Buy' Ahead Of Q2 2024 Earnings AstraZeneca's Oncology Success: Fueling Future Growth Pfizer inks deal with Telescope Innovations to boost R&D capabilities.
