Hikma Pharmaceuticals PLC (LON:HIK) has announced the US Court for the District of Nevada has ruled in its favour regarding a drug to prevent heart disease.
The FTSE 100-listed pharma company is developing a generic version of Vascepa, commercialised by Dublin-based Amarin Corporation PLC (NASDAQ:AMRN).
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The drug, which generated US$919mln revenue in the US last year, is a supplement to reduce the level of fats in the blood, helping to reduce risk of heart disease.
The court ruled Hikma is not infringing key patents protecting Vascepa from generic versions.
The UK firm said it is working “closely” with the US Food and Drug Administration to gain approval as well as “evaluating its options” to launch the product once it is given the green light.
Shares advanced 4% to 2,039.06p on Tuesday at the opening bell.