Mylan won't be able to launch its generic version of Biogen's top multiple sclerosis drug, Tecfidera, until 2028, after a U.S. appeals panel denied Mylan's patent challenge Feb. 5, STAT reported.
Mylan had filed a request to launch its lower-cost version of the drug before Biogen's patent expires, but its request was denied.
Tecfidera brought in $4.43 billion in sales for Biogen in 2019. It had an annual cost of $79,500 at the end of 2018.
Last October, Tecfidera made the Institute for Clinical and Economic Review's list of the costliest U.S. drug price hikes. Biogen had increased the price of Tecfidera by 9.8 percent, more than twice the rate of medical inflation, without a clinical reason to raise the price.
Mylan's generic version was intended to bring costs down.
Biogen's shares rose 23 percent to $348 after the ruling was announced, adding $11 billion in market value, STAT reported.
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