Why This Patent News Is Big For Bristol's Acquisition Of Celgene - (Investor's Business Daily via NewsPoints Desk)

  • Shares in Celgene rose more than 2 percent after the US patent office declined to hear a patent challenge on Revlimid by Dr. Reddy's Laboratories, Investor's Business Daily reported Monday.

  • Meanwhile, shares in the Indian firm were down 5.7 percent on the news.

  • RBC Capital Markets analyst Brian Abrahams described the development as good news for Celgene, which agreed earlier this year to be purchased by Bristol-Myers Squibb.

  • "We believe investors have remained concerned [intellectual property] developments [in the first half of the year] could raise risk and potentially derail their acquisition by [Bristol-Myers Squibb]," Abrahams commented, adding that the patent office decision was "as we had expected."

  • Revlimid generated nearly $9.7 billion in revenue last year, including US sales of $6.5 billion.

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