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Novartis Wins Ruling on $50M Bond for Blocked HEC Gilenya Copies

Dec. 15, 2020, 4:56 PM

A federal judge rejected a request by generic-drug maker HEC Pharm that Novartis be required to keep in place until the conclusion of an appeal a $50 million unsecured bond it posted as collateral before winning an injunction on sales of copycat versions of its blockbuster multiple-sclerosis drug Gilenya.

  • “Given Novartis’s success on the merits at trial and the issuance of a permanent injunction, it is entitled to be released from any claim by HEC against” the preliminary injunction bond, U.S. Circuit Judge Kent Jordan, sitting by designation, wrote in opinion filed Tuesday in federal court in Wilmington, Delaware ...