Active Movers of Yesterday: Celgene Corporation (NASDAQ:CELG), Manulife Financial Corporation (USA) (NYSE:MFC)

On Thursday, Shares of Celgene Corporation (NASDAQ:CELG), gained 0.06% to $122.14.

Celgene Corporation, declared the settlement of litigation with Natco Pharma Ltd. of India, Natco’s U.S. partner, Arrow International Limited, and Arrow’s parent company, Watson Laboratories, Inc. (a wholly-owned partner of Allergan plc) regardingpatents for REVLIMID® (lenalidomide).

As part of the settlement, the parties will file Consent Judgments with the United States District Court for the District of New Jersey that enjoin Natco from marketing generic lenalidomide before the expiration of the patents-in-suit, except as offered for in the settlement, as described below.

In settlement of all outstanding claims in the litigation, Celgene will permit entry of generic lenalidomide before the April 2027 expiration of Celgene’s last-to-expire patent listed in the Orange Book for REVLIMID®. Celgene has agreed to provide Natco with a license to Celgene’s patents required to manufacture and sell an unlimited quantity of generic lenalidomide in the United States startning on January 31, 2026. In addition, Natco will receive a volume-limited license to sell generic lenalidomide in the United States commencing in March 2022. The volume limit is predictable to be a mid-single-digit percentage of the total lenalidomide capsules dispensed in the United States during the first full year of entry. The volume limitation is predictable to improvement gradually each 12 months until March of 2025, and is not predictable to exceed one-third of the total lenalidomide capsules dispensed in the U.S. in the final year of the volume-limited license under this agreement. Natco’s ability to market lenalidomide in the U.S. will be contingent on its obtaining approval of an Abbreviated New Drug Application.

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally. It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID to treat multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, in addition to acute myeloid leukemia (AML).

Finally, Manulife Financial Corporation (USA) (NYSE:MFC), ended its last trade with -0.07% loss, and closed at $15.35.

Manulife Asset Administration has issued its annual Year Ahead report, identifying the main drivers of the global economy and implications for investors in 2016.

Drawing together the individual views from Manulife Asset Administrations investment and economic teams on the ground in the U.S., Canada, Europe, and in markets across Asia, the report addresses the outlook for a range of investment areas and asset classes, counting fixed income, equities, commodities and asset allocation.

Manulife Financial Corporation, together with its auxiliaries, provides financial protection and wealth administration products and services to individual, corporate, and business customers primarily in Asia, Canada, and the United States.

About Travis Garlick 1812 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.