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Allergan plc. latest news:
Allergan wins FDA approval for use of Vraylar in maintenance treatment of schizophrenia
Allergan plc said Monday it has won U.S. Food and Drug Administration approval for use of Vraylar in the maintenance treatment of schizophrenia. The FDA approved the company's supplemental new drug application for the substance, an antipsychotic that is already approved for the acute treatment of adult patients with manic or mixed episodes stemming from bipolar I disorder and for the treatment of schizophrenia. "Schizophrenia is one of the most challenging mental health disorders to manage -- particularly due to the complexity of patient symptoms, varying response to treatment and high rates of relapse," said Dr. Herbert Meltzer, professor of psychiatry and behavioral sciences at Northwestern Feinberg School of Medicine. "The goal of clinicians is to minimize relapses, which can cause significant personal distress, and can often have serious implications for a patient's health." Up to 70% of patients can experience relapse within one year of treatment without maintenance treatment, he said. Schizophrenia affects about 2.4 million American adults and symptoms include hallucinations, delusions, thought disorders and movement disorders. Allergan shares were flat premarket, but have fallen 18% in 2017, while the S&P 500 has gained 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
U.S. senators press Allergan for details on patent deal with tribe
A group of U.S. senators on Tuesday asked drugmaker Allergan Plc (AGN) to produce documents relating to its agreement to transfer patents to a Native American tribe to shield them from review by an administrative court. Democratic Senators Sherrod Brown, Maggie Hassan, Amy Klobuchar, Al Franken and Patty Murray made the request for documents in a letter to Allergan Chief Executive Brent Saunders.
Allergan: That $15 Billion Sure Went Fast
Last year Allergan PLC (AGN) did one of the best deals in drug industry history. The drug company has been busily squandering the benefits ever since. Shares are down nearly 25% over the past three months and more than 40% from the all-time high set in 2015. The latest blow came last week after a federal judge invalidated a key patent on the dry-eye drug Restasis.
BRIEF-U.S. Court issues adverse decision concerning Allergan's Restasis
Allergan Plc(AGN). * U.S. District Court for the Eastern District of Texas issues adverse trial decision concerning Restasis 0.05% patents. * Says company will appeal court's ruling regarding Restasis. * Says "we are disappointed" by Federal District Court's decision on Restasis patents Source text for Eikon: Further company coverage:
Allergan stock drops 5% after judge decides against company on key dry eye product
Allergan PLC shares dropped 5% in extremely heavy afternoon trade Monday after a Texas district court judge ruled against the company in a patent lawsuit regarding the company's key billion-dollar dry eye medication Restasis. "There is no doubt that Allergan has invented a useful and successful pharmaceutical product. It has been richly rewarded for that invention," Judge William Bryson said, adding, "the Court has concluded that Allergan is not entitled to renewed patent rights for Restasis in the form of a second wave of patent protection." Allergan had previously made an unorthodox agreement with a New York state-based American Indian tribe in order to protect Restasis patents from challenges made through the U.S. Patent and Trade Office's inter partes review process, which is separate from any court decisions. The company, which has been widely criticized for the move, including by lawmakers, has said that an district court ruling against it would allow a generic Restasis to "enter the market many years in advance of the listed patent expiry dates," or 2024. Restasis, which is used for eye inflammation, brought in $1.4 billion in revenue last year, second only to Allergan's top-selling Botox. Allergan shares have dropped 20.7% over the last three months, compared with a 3.9% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-U.S. House committee launches probe into Allergan patent deal
* House Oversight Committee Says Launches Probe Into Allergan Patent deal with native american tribe. * House oversight committee asks Allergan (AGN) to provide documents regarding deal with saint regis mohawk tribe, restasis patents Source text for Eikon: Further company coverage:
Shire sues Allergan in U.S. over dry eye drug
Oct 2 (Reuters) - Allergan Plc was sued on Monday by
Shire Plc for allegedly scheming to block doctors from
prescribing its new treatment for dry eye disease.
Allergan $13.75 mln agreement with Saint Regis Mohawk Tribe a play to protect key dry eye product
Allergan PLC(AGN) shares rose 1.8% in heavy Friday afternoon trade on news of an unorthodox agreement the company has made with the Saint Regis Mohawk Tribe that could protect patents on a key Allergan (AGN) dry eye product, Restasis. Under the agreement, the Saint Regis Mohawk Tribe now owns patents on Restasis-- which are expected to expire at the end of August 2024-- and has granted Allergan (AGN) exclusive licenses on the product. The Saint Regis Mohawk Tribe is filing to dismiss patent challenges...
BRIEF-Allergan USA files suits against Imprimis, Prescriber's Choice and Sincerus Florida
Allergan Plc(AGN). * Allergan(AGN) files suits against Imprimis Pharmaceuticals, Inc. (IMMY), Prescriber's Choice, Inc., and Sincerus Florida, LLC. * Says Allergan USA filed lawsuits against Imprimis Pharmaceuticals (IMMY), Prescriber's Choice, and Sincerus Florida. * Allergan USA's lawsuit alleges that the companies are unlawfully manufacturing and selling unapproved new drugs.
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