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Mylan Benefits From Teva's Multiple Sclerosis Patent Dispute Woes

Mylan's shares rose after Teva's claims of patent infringement were rejected, despite the announcement that the FTC is investigating the drugmaker for antitrust violations.

Shares of Mylan (MYL) - Get Reportwere higher Tuesday after a U.S. District Court rejected competitor Teva Pharmaceuticals' (TEVA) - Get Report claims of patent infringement on a drug used to treat multiple sclerosis. This opens the door for Mylan which has been working on a more affordable, generic version of the drug. This comes as embattled EpiPen-maker said it was under investigation by the Federal Trade Commission for violation of antitrust laws. However, the company released a statement saying, "Mylan received an information request from the FTC months ago as part of a preliminary investigation. Any suggestion that Mylan took any inappropriate or unlawful actions to prevent generic competition is without merit."

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