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Biogen Rallies On Tecfidera Patent Decision

Biogen Inc (NASDAQ: BIIB) shares were trading higher Wednesday following the issuing of a decision by the U.S.

Benzinga · 02/05/2020 19:32

Biogen Inc (NASDAQ: BIIB) shares were trading higher Wednesday following the issuing of a decision by the U.S. Patent and Trademark Office's Patent Trial and Appeal Board on a patent trial challenge by Mylan NV (NASDAQ: MYL) on '514 Tecfidera that was in Biogen's favor.

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Biogen’s top product is a multiple sclerosis drug, Tecfidera. Mylan had asked the U.S. Patent and Trademark Office to take a look at Biogen’s exclusive hold on Tecfidera until 2028, according to Barron’s.

Biogen shares were trading 24.62% higher at $353.04 at the time of publication, while Mylan shares were up 2.49% at $22.82.