Avanir up on patent case decision

Shares of Avanir Pharmaceuticals (AVNR +39.5%) pop on slightly higher volume after the Delaware District Court rules that Actavis' generic product specified in its ANDA infringes on Nuedexta's '282 and '484 patents, but not the '115 patent. The court also upheld the validity of the three patents.

The two firms signed a settlement agreement on the matter eight months ago whereby Actavis (ACT +3.6%) would have the right to sell a generic version beginning July 30, 2026.

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