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US judge rules against Corcept in patent infringement spat with Teva By Reuters

US judge rules against Corcept in patent infringement spat with Teva By Reuters


© Reuters. FILE PHOTO: The logo of Teva Pharmaceutical Industries is seen in Tel Aviv, Israel February 19, 2019. REUTERS/Amir Cohen/File Photo

(Reuters) – A U.S. judge ruled on Friday against Corcept Therapeutic (NASDAQ:) in a patent infringement lawsuit the pharmaceutical company had filed against Teva Pharmaceutical (NYSE:), triggering a frenzied selling of shares.

Corcept shares fell 38% in trading after the bell.

The company had failed to demonstrate the likelihood of direct infringement of its patent by Teva, a U.S. district judge ruled.

Teva sells a generic version of Corcept’s drug Korlym (mifepristone), used to treat Cushing’s syndrome.

“Corcept has failed to present credible evidence demonstrating that

anyone who has already violated the allegations made,” the decision states.



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