Dallas, Texas 01/22/2014 (FINANCIALSTRENDS) – Idenix Pharmaceuticals, Inc. (NASDAQ:IDUX) is a US based biotechnology company which also holds substantial foothold in the pharmaceutical industry as it is involved essentially in the gaming-changing processes of development as well as discovery of drugs for diseases which are known to have viral indicators. The company operates in the European markets as well.
Idenix ends 2013 in implicating Gilead on patent infringement
Idenix Pharmaceuticals, Inc. (NASDAQ:IDUX) had in the first week of December filed lawsuits against Gilead Sciences, alleging patent infringement by the company, filed before two different courts of the US. The first was in the US District Court in Boston, and the second lawsuit was filed before US District Court in Wilmington, Delaware.
Idenix Pharmaceuticals, Inc. (NASDAQ:IDUX) alleges the process it adopts – in HCV 2’methyl nucleoside compound treatment is the same as in sofosbuvir, a compound which Gilead currently offers. Therefore, claims Idenix Pharmaceuticals, Inc. (NASDAQ:IDUX), the use, offering or sale, importing as well as distribution of the drug should not be allowed.
Analyst believe lawsuit will not be neagtive for Gilead
Idenix Pharmaceuticals, Inc. (NASDAQ:IDUX) twin patent infringement lawsuits against one of the largest US pharma companies Gilead could only prove to be a long drawn settlement of patent efforts. Analysts believe that the patent will prove to be an effort to challenge GILD. The lawsuit would not have any effect on Gilead Sciences HCV product line-up or the revenues. The expectation is that the company will now begin to hold momentum for GILD shares as the Phase 3 alloral data as well as the launch of Sofosbuvir is expected to boost revenues across the segment. Idenix had last seen a rally at the stock market, only in November of 2013, following the AASLD meeting. The company has been using JNJs simpeprevir in combination with its NS5A inhibitor- samatsvirin and the rally related to new round of talks between the two.