litigation
confidence high
sentiment negative
materiality 0.85
Court invalidates Puma's patents in Tagrisso suit, overturns $107.5M jury award
PUMA BIOTECHNOLOGY, INC.
- Jury found Tagrisso infringed Puma's patents, awarded $107.5M in damages.
- Judge overturned verdict, ruling patents invalid under §112 for lack of enablement/written description.
- Final judgment entered; Puma can appeal by Sept 13, 2024.
- Puma dismissed as plaintiff but retains contractual rights to damages via Wyeth; ruling affects potential recovery.