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This excerpt taken from the ABII 8-K filed Jun 16, 2008. ABRAXIS TO APPEAL JURY RULING ON ELAN PATENT INFRINGEMENT CLAIM LOS ANGELES, Calif. – June 13, 2008 – Abraxis BioScience, Inc. (NASDAQ:ABII), a fully integrated, global biotechnology company, today announced that it intends to appeal the jury ruling in the U.S. District Court for the District of Delaware that Abraxis has infringed upon a patent owned by Elan. In the suit, Elan claimed that Abraxis infringed upon two of Elan’s patents, 5,834,025 and 5,399,363, asserting ABRAXANE® (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) uses technology protected by Elan-owned patents. Elan withdrew its claim that Abraxis infringed on its 025 patent. The jury ruled that Abraxis has infringed upon Elan’s 363 patent, which runs until 2011, and awarded Elan $55 million in damages for sales of Abraxane® to date. The company said it is disappointed by the jury ruling in this complex patent litigation and feels confident as it proceeds to appeal in this matter. Abraxis will pursue post-trial motions and appeal the judgment of the District Court. |
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