In late September, Corcept Therapeutics finally went to trial against Teva in the parties’ long-running patent dispute over Teva’s prospective generic for Korlym. The Hatch-Waxman litigation between the two companies has been waging since 2018. Numerous patents have come in and out of the case over that time. Yet, by the time of the trial a few weeks ago, Corcept had narrowed its case down to alleging Teva’s infringement of only two patents: U.S. Patent No. 10,195,214 and 10,842,800. The parties’ post-trial brief have been filed. What do they say?
Read MoreCorcept Therapeutics has been battling for years to halt Teva’s generic for Korlym®. Although Corcept started off with only two patents, it has been adding patents to the Orange Book ever since Teva’s ANDA was filed. By periodically litigating those patents in piecemeal fashion, Corcept has delayed generic Korlym®’s availability to consumers at lower-cost prices. Yet, in a recent order, the court finally called out Corcept’s delay tactics and indicated it would award attorneys’ fees. What happened?
Read MoreWe previously blogged about Teva’s ($TEVA) petition for post-grant review (PGR) of Corcept Therapeutics’ ($CORT) ‘214 patent. Since then, on November 20, 2019, the PTAB granted institution of Teva’s petition. The proceeding will now be litigated for another year before a final decision. On a recent earnings call, Corcept stated that it believes the standard for institution is “pretty low,” and not necessarily dispositive that Teva will prevail. Now that we have the institution decision, what can we glean from it, and how likely is that Corcept’s patent survives?
Read MoreThe saga over Corcept Therapeutics’s ($CORT) patent battles against prospective generics for Korlym® is approaching another stage. We previously discussed Teva’s ($TEVA) petition for post-grant review (PGR) of the ‘214 patent. Corcept has filed its preliminary response to Teva’s PGR, and the PTAB is scheduled to decide whether or not to institute the PGR by about November 23, 2019. The ‘214 patent is potentially the strong patent Corcept is currently wielding against generics, since it arguably does read upon Korlym®’s label. Now that the papers are in, what are the odds Teva’s PGR is instituted?
Read MoreCorcept Therapeutics recently received a Paragraph IV notice letter from Teva for its drug, Korlym®. The market’s reaction crushed the stock, sending it from approximately $23 to roughly $17 within a day. Corcept Therapeutics has essentially one drug, Korlym® (mifepristone). But whether Teva will enter with a generic version of Korlym® any time soon depends directly on the patents that Corcept has in its arsenal. What are those patents? Is the market’s reaction justified? Or is this a buying opportunity?
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