Bristol Myers Squibb (NYSE:BMY) and collaboration partner Pfizer (NYSE:PFE) are up 6% and 2%, respectively, after hours in response to an unconfirmed patent ruling related to blood thinner Eliquis (apixaban).
The court apparently found that generic products from Sigmapharm, Sunshine Lake and Unichem infringe on certain BMY patents.
The decision, if upheld, would be a big win for BMY since the automatic 30-month stay related to the patent challenge expired on June 28. Eliquis is the company's top seller (before acquiring Celgene) generating $2.6B in sales last quarter (Celgene's Revlimid generated $2.9B).
Under their April 2007 agreement, BMY and PFE share profits and losses on the product on a 40/60 basis.