BioMarin Announces Legal Action Against Ascendis Pharma A/S in European Unified Patent Court
BioMarin Pharmaceutical (Nasdaq: BMRN) has initiated legal action against Ascendis Pharma A/S in the Unified Patent Court (UPC) in Munich, Germany, for alleged infringement of European patent EP 3 175 863 B1.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
BioMarin Pharmaceutical (Nasdaq: BMRN) has initiated legal action against Ascendis Pharma A/S in the Unified Patent Court (UPC) in Munich, Germany, for alleged infringement of European patent EP 3 175 863 B1. The patent, which covers long-acting variants of C-Type Natriuretic Peptide (CNP), was confirmed by the European Patent Office's Opposition Division in 2024.
The legal action targets Ascendis' TransCon CNP investigational product and its development program in Germany and Europe. A decision is expected within 12-15 months. The UPC, operational since June 2023, has jurisdiction over European patents across 18 European member states that have ratified the Unitary Patents.
Positive
- Patent protection confirmed by European Patent Office in 2024
- Legal jurisdiction spans 18 European countries through UPC
Negative
- Potential legal expenses from patent litigation
- 12-15 month timeline for legal resolution creates uncertainty
Details
News Market Reaction – BMRN
The recorded move for BMRN in the trading session of this news was -0.58%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The legal action, which would result in a decision in the next 12-15 months, is based on BioMarin's belief that Ascendis' TransCon CNP investigational product and its development program in
The UPC, which formally started in June of 2023, has jurisdiction over European patents for 18 European member states that have ratified the Unitary Patents (UPs), including:
"Intellectual property provides the foundation on which advances in the biotechnology industry are built, particularly for rare genetic conditions," said Alexander Hardy, president and chief executive officer of BioMarin. "We are committed to protecting the important inventions our scientists make for patients around the world, including the more than 15 years of scientific research that supported VOXZOGO® and BMN 333, our long-acting CNP."
About BioMarin
BioMarin is a global biotechnology company dedicated to translating the promise of genetic discovery into medicines that make a profound impact on the life of each patient. The
Forward-Looking Statements
This press release contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including without limitation, statements about: the legal action BioMarin initiated against Ascendis Pharma A/S for infringement of one of BioMarin's European patents, including BioMarin's expectations regarding the timing and resolution of such legal action. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: results and timing of the legal action BioMarin initiated against Ascendis Pharma A/S; the content and timing of decisions by the Unified Patent Court; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, as such factors may be updated by any subsequent reports. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioMarin® and VOXZOGO® are registered trademarks of BioMarin Pharmaceutical Inc.
Contacts: | |
Investors | Media |
Traci McCarty | Andrew Villani |
BioMarin Pharmaceutical Inc. | BioMarin Pharmaceutical Inc. |
(415) 455-7558 | (628) 269-7393 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/biomarin-announces-legal-action-against-ascendis-pharma-as-in-european-unified-patent-court-302349367.html
SOURCE BioMarin Pharmaceutical Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.