Medicines Co. gains on Angiomax decision
The Medicines Co. (NASDAQ:MDCO) gained $3.14 (34%) to $12.47 on Tuesday after a district court ordered the U.S. Patent and Trademark Office (PTO) to consider the company's application for a patent term extension for anticoagulant Angiomax bivalirudin as timely filed. The PTO denied the application in March, claiming the company had missed the 60-day filing window by two days. In his decision, Judge Claude Hilton of the District Court for the Eastern District of Virginia said PTO interpreted the Hatch-Waxman Act in a manner that deprives an applicant of the full 60 days to submit an extension application. Medicines Co. is seeking to extend the term of the patent to December 2014. The patent had been set to expire on May 23 but the court ordered the PTO to ensure that the patent does not expire until at least 10 days after the court issues a decision in the case. Neither PTO nor FDA, which was also named as a defendant in the suit, was available to comment. ...