This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Idenix Loses First Phase Of Patent Dispute With Gilead Sciences

CAMBRIDGE, Mass. ( TheStreet) -- Idenix Pharmaceuticals (IDIX) shares are weak Monday morning following the loss in the first phase of a hepatitis C patent dispute with Gilead Sciences (GILD - Get Report).

The U.S. Patent and Trademark Office (USPTO) determined that Idenix filed its patent application later than Gilead. This makes Idenix the "junior party" and Gilead the "senior party" in the ongoing case. Friday's ruling reverses an earlier decision by the USPTO which declared Idenix the senior party.

Idenix shares are down 10% to $4.20 in early Monday trading.

The USPTO ruling raises the burden of proof required for Idenix to prove its patent case against Gilead, but the ultimate outcome is determined by which party was the first to invent. This second and more important phase of the patent dispute is expected to begin in the second quarter, Idenix said.

Idenix alleges that a patent issued to Gilead covering the chemical makeup of certain hepatitis C drugs violates one its patent applications. If Idenix prevails, Gilead could be forced to pay a small royalty on sales of its hepatitis C drug sofosbuvir.

The ruling in phase I of the patent case does not affect Idenix's ability to develop its own hepatitis C drugs, most notably IDX719 or its uridine nucleoside inhibitor. Previously, Idenix announced plans to begin a phase II study of IDX719 in combination with Johnson & Johnson's simeprevir in the first half of the year. The company will also seek FDA permission to begin human studies of the nucleotide inhibitor before mid year.

-- Reported by Adam Feuerstein in Boston.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GILD $84.62 -1.40%
IDIX $24.50 0.20%
AAPL $92.52 -0.77%
FB $119.23 1.20%
GOOG $711.63 1.50%


Chart of I:DJI
DOW 17,718.62 +57.91 0.33%
S&P 500 2,056.05 +5.42 0.26%
NASDAQ 4,729.6070 +12.5130 0.27%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs