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June 30, 2009
B+
Monday,
an East Texas jury awarded $1.67 billion for infringing a single patent:
7,070,775, which Centocor and New York University jointly own. '775 claims an
"antibody or antigen-binding fragment." The patent applies to an arthritis drug.
Abbott was the infringing party. $1.17 billion was for lost profits, plus $504
million for reasonable royalty damages. Abbott continues to swear
non-infringement. The infringing product,
Humira, sold more than $4.5 billion in 2008, Abbott's top seller, accounting
for 15% of its revenues last year. Centocor's competing arthritis drug is
Remicade.
Posted by Patent Hawk at June 30, 2009 11:58 PM | Damages