Reportedly, Amgen Inc. (AMGN) has taken legal action against Sandoz, a subsidiary of Novartis AG (NVS), in New Jersey federal court. The healthcare giant has accused Sandoz of violating several patents by creating biosimilar versions of its profitable bone-strengthening drugs, Prolia and Xgeva. Amgen has requested that the court prohibit Sandoz from selling the drugs until the patents expire, with one patent set to expire in 2037.
Prolia is used to treat osteoporosis, while Xgeva, which contains the same active ingredient, denosumab, is used to treat bone cancer and prevent bone fractures in cancer patients. Amgen sold $3.6 billion worth of Prolia and $2 billion worth of Xgeva in 2022. Amgen has claimed that 21 patents covering both drugs have been infringed upon by the proposed biosimilars.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also provides select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.