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Alternative Market Briefing

Hedge fund manager Kyle Bass wins patent review for Shire drug

Thursday, October 08, 2015

Komfie Manalo, Opalesque Asia:

Score another round for Kyle Bass. On Wednesday, the U.S. Patent and Trademark Office has granted a petition to review a Shire Plc colitis drug, after it ruled that his hedge fund Hayman Capital had a "reasonable likelihood" of proving the patent owned by Cosmo Pharmaceuticals is not valid.

According to Bloomberg, the agency’s Patent Trial and Appeal Board decision to review Bass’ petition is an indication it is more interested with the evidence presented, rather than the alleged profit the petitioner would gain.

As expected, Shire expressed disappointment over the decision and said the review is only a first step of a process that will likely take about one year.

Kyle Bass says his actions (challenging pharmaceutical patents) will lower drug prices. But he also takes short positions in the targeted drug companies before challenging the validity of their patents.

Late last month the U.S. Patent and Trademark Office denied a request by Celgene Corp to sanction Bass and his Coalition for Affordable Drugs by throwing out their challenges to its patents.. ......................

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