Shire PLC: A significant relief for Shire and Lialda in the US
BUY, Fair Value 2160p (+12%)
Yesterday Shire won a patent litigation case against Watson concerning its drug Lialda in a US District Court. This means that the generic of the drug will not be able to launch before June 2020. As Watson is likely to be first-to-file, it should then prevent anyone else from launching a copy of the drug. To make to short, it is protecting the drug - which represents 9% of total sales - for another 7 years. After Shire settled with Actavis on Intuniv, the news is increasing significantly the visibility over patent challenges. Unfortunately, the underlying business is getting more difficult at the same time.
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