litigation
confidence high
sentiment negative
materiality 0.75
Puma reports judge invalidated Tagrisso patents; Wyeth appeals Sept 12
PUMA BIOTECHNOLOGY, INC.
- Jury awarded $107.5M for past infringement of '314 and '162 patents through Dec 2023.
- Judge granted AstraZeneca's motion, ruling patents invalid for lack of enablement/written description.
- Wyeth filed notice of appeal on Sept 12, 2024, challenging the invalidity ruling and other adverse orders.
- Puma was dismissed as plaintiff but retains contractual rights to recover damages under Pfizer agreement.
- Puma respectfully disagrees with the invalidity ruling; post-trial motions for supplemental damages and ongoing royalties pending.