Bristol Myers wins dismissal of lawsuit alleging Pomalyst monopoly
NEW YORK, April 8 (Reuters) - Bristol Myers Squibb (BMY.N), opens new tab won the dismissal of a proposed class action accusing it of fraudulently obtaining patents and filing sham patent lawsuits to maintain an illegal monopoly on its blockbuster blood cancer drug Pomalyst, keeping cheaper generic versions off the market.
In a 70-page decision made public on Tuesday, U.S. District Judge Edgardo Ramos in Manhattan said the health insurer Blue Cross Blue Shield of Louisiana and other Pomalyst purchasers failed to show that Bristol Myers and the former Celgene Corp violated the federal Sherman antitrust law.
Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.
Ramos said the plaintiff purchasers failed to establish fraud in the procurement of six patents related to Pomalyst.
He also said they failed to show how nine lawsuits that Celgene filed between 2017 and 2020 against generic drug producers such as Teva (TEVA.TA), opens new tab and Mylan (VTRS.O), opens new tab were "objectively baseless" and led to fraudulent settlements.
Lawyers for the plaintiffs did not immediately respond to requests for comment.
The plaintiffs claimed they were overcharged for Pomalyst since at least October 2020, when generic versions of the multiple myeloma treatment allegedly could have been launched but for the defendants' alleged illegal scheme.
Pomalyst sales totaled $3.55 billion in 2024, or about 7.3% of Bristol Myers' $48.3 billion of overall revenue.
The drug was developed by Celgene, which Bristol Myers bought in 2019. Bristol Myers is based in Princeton, New Jersey.
The case is Louisiana Health Service & Indemnity Co et al v Celgene Corp et al, U.S. District Court, Southern District of New York, No. 23-07871.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Metro
3 days ago
- Metro
Man Utd offered PSG star after Ruben Amorim's top target joins Chelsea
PSG have offered Manchester United a solution in their pursuit of a new striker after Ruben Amorim missed out on his top transfer target. Amorim wanted to welcome Liam Delap to Old Trafford after his breakthrough season in the Premier League but the Ipswich Town star has chosen to join Chelsea instead. Delap's decision has caused Manchester United to look elsewhere and they have been linked with Viktor Gyokeres, Benjamin Sesko and Hugo Ekitike. United are also considering an offer from Paris Saint-Germain to bring Portugal forward Goncalo Ramos to the Theatre of Dreams. According to the Daily Mail, intermediaries have given Amorim the chance to sign Ramos this summer after he was deemed surplus to requirements by PSG boss Luis Enrique. Wake up to find news on your club in your inbox every morning with Metro's Football Newsletter. Sign up to our newsletter and then select your team in the link so we can send you football news tailored to you. Paris Saint-Germain spent around £60m to sign the 23-year-old from Benfica in 2023, beating the likes of Manchester United and Arsenal to a deal. It was reported at the time that Bruno Fernandes, now the United captain, was keen for his compatriot to arrive at the club. Ramos scored 14 goals during his first season in Paris and another 18 this term as Enrique's side won a stunning treble, lifting the first ever Champions League trophy and dominating in Ligue 1. But he has struggled for starts ever seen arriving from Benfica – coming on as an 84th-minute substitute in the Champions League final – and has been put up for sale this summer. Despite being behind Cristiano Ronaldo in the pecking order, Ramos has also shown his potential for Portugal, scoring nine goals in 15 games and bagging a World Cup hat-trick in Qatar. At 23, Ramos certainly fits the profile of players Manchester United are keen to sign this summer, having already secured a deal for Matheus Cunha and in talks with Bryan Mbeumo. Gyokeres is another option for the striker position and enjoyed playing under Amorim before he left Sporting Lisbon to take over at Old Trafford. But the Swedish No. 9 has offers from Champions League clubs so United's failure to qualify for any European football could prove costly. Manchester United have also been linked with Jean-Philippe Mateta, who is leaning towards staying at Crystal Palace, and Aleksandar Mitrovic, who has scored 68 goals in 79 games in Saudi Arabia. Last week, Old Trafford CEO Omar Berrada insisted the club have a 'clear and ambitious' plan in regards to this summer's transfer window. 'I can't talk about specifics but I can say we have been planning for many months now,' Berrada told MUTV. 'We were ready for all the different scenarios and now know what we need to do. More Trending 'We have a very clear idea where we need to invest in the squad to improve. So Jason [Wilcox], his team and Ruben [Amorim] have been in talks, as I said, for many months. 'Now it's a question of executing that plan and doing it in a way that is prudent but, at the same time, with ambition.' Manchester United are desperately trying to bolster Amorim's squad following a season in which they finished just 15th in the Premier League. Amorim has around £100m to spend at this stage but that figure will go up following player sales, with Alejandro Garnacho, Jadon Sancho, Marcus Rashford and Antony all set to be moved on. For more stories like this, check our sport page. Follow Metro Sport for the latest news on Facebook, Twitter and Instagram. MORE: Rio Ferdinand names Man Utd duo who couldn't handle 'pressure' of a big club MORE: Chelsea issue telling response after Paul Scholes makes wild Moises Caicedo claim MORE: John Obi Mikel backs Chelsea to sign two Man Utd stars and build Europe's best young squad
Reuters
5 days ago
- Reuters
Bristol Myers to pay $1.5 billion upfront for BioNTech cancer drug partnership
June 2 (Reuters) - Bristol Myers Squibb (BMY.N), opens new tab will pay $1.5 billion upfront to partner with Germany's BioNTech ( opens new tab, on an experimental cancer drug, the U.S. company said on Monday, in a deal that could eventually exceed $11 billion in value for BioNTech. Bristol said it will co-develop and co-commercialize BioNTech's drug, BNT327, for multiple solid tumour types. The deal underscores the industry's focus on a new dual mechanism of action in oncology. BNT327 is designed to activate the immune system, similar to an established drug class including Merck & Co's (MRK.N), opens new tab Keytruda, but also to cut a tumour's blood supply. "We are impressed by the innovation that BioNTech has achieved to date and we look forward to partnering to accelerate existing clinical trials and time to market, while expanding the number of potential indications," Bristol Myers CEO Chris Boerner said in a statement. Instil Bio, opens new tab(TIL.O), opens new tab and ImmuneOnco ( opens new tab are working on a similar compound called SYN-2510. Summit Therapeutics, opens new tab(SMMT.O), opens new tab and Akeso ( opens new tab have formed another partnership in the development race with a drug candidate called ivonescimab. BioNTech took full ownership of BNT327 through the acquisition, opens new tab of China's Biotheus earlier this year for $800 million upfront and up to $150 million contingent on development achievements. It previously held certain rights in the drug under a 2023 collaboration, opens new tab deal. In addition to the initial payment, Bristol plans to pay BioNTech up to $2 billion more in non-contingent anniversary payments through 2028. BioNTech may also earn up to $7.6 billion more in development, regulatory and commercial milestones, Bristol said. The companies will share global profits and losses from the drug equally, and joint development and manufacturing costs will also be shared on a 50/50 basis, subject to some exceptions. BNT327, part of a drug category known as bispecific antibodies, is currently being tested as a first-line treatment in extensive stage small cell lung cancer and non-small cell lung cancer. More than 1,000 patients have been treated with the drug to date.
Reuters
07-05-2025
- Reuters
Teva Pharm first-quarter profit rise tops estimates
The logo of Teva Pharmaceutical Industries is displayed at the company headquarters in Tel Aviv, Israel, February 20, 2024. REUTERS/Dylan Martinez/ File Photo Purchase Licensing Rights , opens new tab Companies Teva Pharmaceutical Industries Ltd Follow JERUSALEM, May 7 (Reuters) - Teva Pharmaceutical Industries ( , opens new tab reported a slightly larger than expected rise in first-quarter profit, helped by strong sales gains in a trio of its branded drugs to treat migraines, Huntington's disease and schizophrenia. The world's largest generic drugmaker said on Wednesday it earned 52 cents per diluted share, excluding one-time items, in the January-March quarter, up from 48 cents a share a year earlier. Revenue rose 2% to $3.89 billion. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. Advertisement · Scroll to continue Analysts had forecast earnings of 46 cents per share ex-items for the Israel-based company on revenue of $3.99 billion, LSEG I/B/E/S data showed. Teva said that confirmed U.S. tariffs were expected to have an immaterial financial impact. Reporting by Steven Scheer, Editing by Louise Heavens Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
