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Bristol-Myers Jumps By More Than 5% After Eliquis Patent Ruling

Aug. 6, 2020, 2:41 PM

Shares of Bristol-Myers Squibb Co. jumped by as much as 5.35% to $62.97 in New York trading Thursday as traders applauded a late-Wednesday court ruling that upheld patents on the blockbuster blood-thinner Eliquis.

Bristol-Myers and Pfizer Inc., which share profits from sales of the drug, proved that generic-drug makers Sigmapharm Laboratories LLC, Unichem Laboratories Ltd. and Sunshine Lake Pharma Co. Ltd. would infringe valid patents, a federal judge in Wilmington, Delaware, said.

The three generic-drug makers can’t launch their copycat versions of Eliquis until 2031, said Susan Francis, a spokesperson for Bristol-Myers. Based on settlement agreements previously reached ...