Amphastar Announces Jury Verdict in Patent Litigation against Momenta Pharmaceuticals, Inc. and Sandoz Inc.
July 24 2017 - 6:00AM
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) announced today that
a federal jury delivered a unanimous verdict in favor of Amphastar
in a lawsuit brought by Momenta Pharmaceuticals, Inc. and Sandoz
Inc. (the “Plaintiffs”) in the U.S. Court for the District of
Massachusetts. The jury found the claims of Momenta’s U.S. Patent
No. 7,575,886 (the “Patent”) to be invalid for lack of enablement
and lack of adequate written description. The jury further
found that the Plaintiffs had waived their ability to enforce the
Patent because of Plaintiffs’ conduct before the U.S. Pharmacopeia
(“USP”), and that the Plaintiffs were estopped from enforcing the
Patent because of this conduct.
Amphastar's CEO, Dr. Jack Zhang, stated: "We have always
believed that the facts and the law do not support the Plaintiffs’
baseless allegations and we are very pleased that justice has
prevailed. We remain proud of our technology for product
development and will continue to execute on our mission of
developing and manufacturing life-saving drugs for the benefit of
patients.”
Company Information
Amphastar is a specialty pharmaceutical company that focuses
primarily on developing, manufacturing, marketing, and selling
technically-challenging generic and proprietary injectable and
inhalation products. In 2014, the Company also commenced sales of
insulin active pharmaceutical ingredient products. Most of the
Company’s finished products are used in hospital or urgent care
clinical settings and are primarily contracted and distributed
through group purchasing organizations and drug wholesalers. More
information is available at the Company’s website at
www.amphastar.com.
Forward Looking Statements
All statements in this press release that are not historical are
forward-looking statements, including, among other things,
statements relating to the Company’s expectations regarding
litigation matters, collection of the bond posted by the Plaintiffs
and other matters related to its current products, pipeline of
product candidates and other future events. These statements are
not historical facts but rather are based on Amphastar’s current
expectations, estimates, and projections regarding Amphastar’s
business, operations, and other similar or related factors. Words
such as “may,” “will,” “could,” “would,” “should,” “anticipate,”
“predict,” “potential,” “continue,” “expects,” “intends,” “plans,”
“projects,” “believes,” “estimates,” and other similar or related
expressions are used to identify these forward-looking statements,
although not all forward-looking statements contain these words.
You should not place undue reliance on forward-looking statements
because they involve known and unknown risks, uncertainties, and
assumptions that are difficult or impossible to predict and, in
some cases, beyond Amphastar’s control. Actual results may differ
materially from those in the forward-looking statements as a result
of a number of factors, including those described in Amphastar’s
filings with the Securities and Exchange Commission. Amphastar
undertakes no obligation to revise or update information in this
press release to reflect events or circumstances in the future,
even if new information becomes available.
Contact Information:
Amphastar Pharmaceuticals, Inc.
Bill Peters
Chief Financial Officer
(909) 980-9484
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