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Limited impact on Gilead expected from Idenix lawsuit: Wells

  • Idenix Pharmaceuticals (IDIX -5%) announced earlier that it has filed two lawsuits against Gilead Sciences (GILD -0.7%): A patent infringement lawsuit in the U.S. District Court in Boston, Massachusetts and a separate patent infringement and interference lawsuit in the U.S. District Court in Wilmington, Delaware.
  • In the view of Wells Fargo analyst Brian Abrahams, the impact on GILD is likely to be minimal.
  • "Though this could potentially provide IDIX another means of challenging GILD, we expect the process to be lengthy and potentially take years to resolve; ultimately, we do not expect significant negative impact on GILD's future HCV revenues and expect continued momentum for GILD shares into the Phase 3 alloral data, sofosbuvir launch, and maturing oncology pipeline," Abrahams says.
Comments (1)
  • John_Rutledge
    , contributor
    Comment (1) | Send Message
     
    Someone has to be the coat tail
    2 Dec 2013, 03:10 PM Reply Like
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