Key Development For Ariad Pharma (Nasdaq: ARIA) Print E-mail
By Staff and Wire Reports   
Monday, 24 August 2009 06:44

After the market closed on Friday, a federal appeals court said that it will reconsider its decision in April to toss out a $65 million ruling for Ariad Pharmaceuticals Inc. (Nasdaq:ARIA) in a patent dispute with Eli Lilly & Co. (LLY).

The case centers on allegations by Ariad and three partners that Eli Lilly's osteoporosis drug Evista and its sepsis drug Xigris infringed Ariad patent claims related to cell proteins.

A three-judge panel of the U.S. Circuit Court of Appeals for the Federal Circuit had said in an April ruling that Ariad's patent claims were invalid because of inadequate written descriptions.

That decision overturned the 2006 judgment of a federal jury in Boston that found Lilly infringed the Ariad claims and awarded Ariad $65 million.

In a three-page order filed late Friday afternoon, the appeals court said it would reconsider the case, with all of the court's active judges participating in the decision.

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