The US Patent and Trademark Office (USPTO) Patent Trial and Appeal Board (PTAB) has decided not to embark on the review of the 166 formulation patent of AbbVie Inc. (NYSE:ABBV) as requested by Coherus Biosciences Inc (NASDAQ:CHRS).
While the issue will less likely affect AbbVie too broadly, the decision of the USPTO PTAB favoring the company strengthens investors’ confidence in its intellectual property (IP) claims. After all, amid strong Humira sales in the past years, AbbVie has long been struggling to maintain investors’ confidence in its operations.
Speaking of Humira, analysts are expecting the drug to miss third quarter sales projections.
Veliparib Gets Orphan Drug Designation
Last week, the US Food and Drug Administration (FDA) granted veliparib, an oral poly [adenosine diphosphate (ADP) ribose] polymerase (PARP) inhibitor currently being evaluated in combination with chemotherapies such as carboplatin and paclitaxel, or radiation therapy for the treatment of patients with advanced squamous non-small cell lung cancer (NSCLC), an Orphan Drug Designation.
“This Orphan Drug Designation for veliparib recognizes the significant unmet need in patients with advanced squamous non-small cell lung cancer,” explained Michael Severino, M.D., AbbVie Chief Scientific Officer and Executive Vice President (EVP) of Research and Development (R&D).
Severino has also reiterated that the company is eager to develop veliparib to provide the best possible treatment options to squamous NSCLC patients.
The combination therapies are being assessed regarding whether they can lessen the DNA damage repair in cancer cells. Currently, veliparib is not approved for the treatment of any type of NSCLC.
Should AbbVie successfully establish the safety and efficacy profiles of the drug in combination with chemotherapy and/or radiation therapy for the said indication, it will be the first pharmaceutical company to market it for squamous NSCLC patients.
Presently, NSCLC is the most common lung cancer type in the US. Squamous cell carcinoma cases account for up to 30% of NSCLC cases in the country. More often than not, it is closely linked to smoking. Patient survival heavily depends on patient care and the extent of the disease.
On Tuesday, AbbVie has declined 0.17% to $58.81 while Coherus Biosciences has dropped 5.66% to $24.15.