Kyle Bass Challenges Biogen Fumaderm Patent

A patent held by Biogen Inc (NASDAQ: BIIB) on its Fumaderm psoriasis treatment got challenged Tuesday by hedge fund manager and short seller Kyle Bass.

Fumaderm, acquired by Biogen in 2006, accounted for $62 million of Biogen's $8.2 billion in 2014 product revenue.

Biogen changed hands recently at $421.08, down 0.24 percent.

In January, Bass, who runs Dallas-based Hayman Capital Management L.P., told an investment conference in Norway of plans to challenge pharmaceutical patents via a so-called Inter Partes Review process created by Congress in 2012.

The process entails hearings before a U.S. Patent Office panel as a cheaper and faster alternative to court trials, and was formed to help fight patent trolls.

The Biogen challenge is the latest for Bass, who has mounted similar objections so far to patents held by Pharmacyclics, Jazz Pharmaceuticals, Acorda Therapeutics and Shire.