) recently announced that the Court of Appeals for the Federal
Circuit has issued a favorable verdict for the company in a
patent infringement case. The court overturned the decision of
the District Court invalidating five of Mylan's patents related
to its chronic obstructive pulmonary disease (COPD) drug
Perforomist. Following the favorable court decision, Mylan's
patents regarding Perforomist stand as valid and enforceable.
In 2012, Mylan settled its patent dispute with Sunovion
Pharmaceuticals Inc., a subsidiary of Japanese pharmaceutical
company, Dainippon Sumitomo Pharma Co., Ltd. pertaining to
Sunovion's Brovana, pending the result of the Federal Circuit
appeal. Sunovion recognized that Brovana infringed two of Mylan's
patents, which are valid till Jun 22, 2021. Brovana is approved
for controlling the symptoms of COPD, including chronic
bronchitis and emphysema. Both Brovana and Perforomist are
long-acting beta-2 agonists.
We note that the Perforomist inhalation solution is marketed by
the Mylan Specialty segment. The drug performed well in the first
quarter of 2013. The most significant product in this segment is
EpiPen auto-injector, which is used to treat severe allergic
The bulk of the revenues come from its generic division.
The company's generics business has been consistently performing
well. Mylan's generic unit has seen quite a few launches over the
past few months. Important recent launches include the company's
generic version of
) Zovirax ointment.
Dr. Reddy's Laboratories Ltd.
) too has been making multiple generic launches over the past few
Mylan carries a Zacks Rank #3 (Hold).
Lannett Company, Inc.
) appears to be more attractive with a Zacks Rank #2 (Buy).
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