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Roche’s Genentech Loses Appeal Ruling Over Amgen’s Mvasi (2)

July 6, 2020, 3:32 PM

Roche Holding AG’s Genentech unit lost its appeals court bid to halt Amgen’s Inc.’s biosimilar of the cancer drug Avastin.

Genentech had argued that Amgen didn’t provide adequate notice, as required by law, before it began selling the biosimilar Mvasi. The U.S. Court of Appeals for the Federal Circuit ruled Monday that adequate notice had been given.

Amgen rose 2.4% to $264.35 at 11:06 a.m. in New York trading. Roche was up less than 1%.

Avastin is Roche’s biggest pharmaceutical product, though Mvasi is cutting into those sales. U.S. sales of Avastin dropped 27% to 586 million Swiss francs...

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