ST. LOUIS, May 19, 2017 (GLOBE NEWSWIRE) — GeneriCo, LLC (GeneriCo), a global specialty generic drug company, today announced that the Patent Trial and Appeal Board (“PTAB”) of the U.S. Patent and Trademark Office ruled in favor of its petition for Inter Partes Review (“IPR”) of the Valeant Pharmaceuticals International, Inc. U.S. Patent 8,865,688 (the ‘688 Patent). The PTAB’s decision invalidates all of the disputed claims of the ‘688 Patent that previously provided Apriso® (extended-release capsules containing 0.375g mesalamine as a locally-acting aminosalicylate indicated for the maintenance of remission of ulcerative colitis in adults) FDA Orange Book exclusivity through May 1, 2030.
“Along with our IPR partner Flat Line Capital, LLC, we are pleased that the PTAB has decided to invalidate all the disputed claims of the ‘688 Patent,” said Daniel Thompson, GeneriCo President and CEO. “While more remains to be done, this is a significant step forward to lowering prescription drug costs for patients and healthcare providers in the U.S. system.”
Kevin Barnes, Principal of Flat Line Capital, LLC added, “We believe this successful IPR outcome further validates our leadership in pharmaceutical intellectual property disputes and the effectiveness of our platform.”
About GeneriCo, LLC
GeneriCo, LLC is a generic pharmaceutical company focused on developing and marketing niche, high barrier drugs in the United States. The Company employs a four-pillar collaboration business strategy capitalizing on management’s deep industry knowledge and experience to collaborate with partners on the discovery, formulation, development and manufacture of generic drugs. The Company expects its 1st internally-developed ANDA to be filed in 2017.
CONTACT: Contact: Daniel Thompson, President and CEO Phone Number: 1.314.330.0800 Email: [email protected] www.genericopharma.com
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