Gilead Wins Reversal of $1.2B Patent Loss to Bristol-Myers: Bloomberg
- Gilead Sciences Inc (NASDAQ: GILD) persuaded a U.S. appeals court to reverse a $1.2 billion judgment Bristol-Myers Squibb & Co (NYSE: BMY) had won over immuno-oncology treatments.
- The patent owned by Bristol-Myers’s Juno Therapeutics and the Sloan Kettering Institute for Cancer Research is invalid, the U.S. Court of Appeals for the Federal Circuit ruled, Bloomberg reported.
- The jury verdict that upheld the patent was “not supported by substantial evidence,” the three-judge panel ruled.
- Price Action: GILD shares are up 0.37% at $71.68, and BMY shares are down 0.58% at $67.21 during the market session on the last check Thursday.
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