Regeneron Pharmaceuticals Inc (REGN) and Sanofi SA (ADR) (SNY) Obtain Suspension of Injunction for Cholesterol Drug Sales

Correction: A previous version of this article erroneously presented older events about the case between Sanofi/Regeneron and Amgen. The article has been updated to reflect the latest information available about the lawsuit.

Sanofi SA (ADR) (NYSE:SNY) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN) have announced that the US Cout of Appeals for the Federal Circuit suspended the previously-set block for Praluent® (alirocumab) Injection pending the companies’ appeal. The ruling allows companies to sell the cholesterol-lowering drug during the appeal process. In January, a US District Judge issued a order to halt the sale of Praluent for 12 years on grounds that the drug infringes patents on Amgen, Inc. (NASDAQ:AMGN)’s Repatha medication.

court, courtroom, gavel, american, flag, legal, desk, background, legally, juror, guilt, chair, table, divorce, judgment, nobody, mallet, tool, brown, decisions, symbol,

Alex Staroseltsev/

“This decision is important for patients in the U.S. who will continue to have access to Praluent during the appeal process giving them a choice in PCSK9 inhibitor treatments to best meet their individual needs. It is our longstanding position that Amgen’s asserted patent claims are invalid and we look forward to moving forward with the appeal process,” Sanofi’s Executive Vice President and General Counsel, Jaren Lineha, said in a statement.

The statement added that Sanofi SA (ADR) (NYSE:SNY) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN) are appealing against the injunction and the appeal process, as they consider that Amgen’s patent claims are invalid in the patent infringement lawsuit. If the ban is lifted completely following the appeal, Amgen, Inc. (NASDAQ:AMGN) could lose some of its contracts with insurers and other benefits.

Previously it was reported that analysts estimated Praluent sales to amount to $2.0 billion by 2020. Amgen, Inc. (NASDAQ:AMGN)’s stock inched down by 0.39% on Thursday, while Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Sanofi SA (ADR) (NYSE:SNY)’s stocks gained 1.91% and 3.64%, respectively as investors reacted to the news.

Follow Amgen Inc (NASDAQ:AMGN)

Follow Sanofi Aventis (NYSE:SNY)