Alexion says Novartis challenges EU patent on Soliris

U.S. drugmaker Alexion Pharmaceuticals (ALXN.O) said Novartis (NOVN.VX) challenged the European patent covering its key genetic disorder drug Soliris, in what analysts said was an attempt by the Swiss giant to clear the way for its own experimental eye drug. End Quote

(1888PressRelease) August 27, 2010 - Novartis is developing a drug to treat a type of age-related vision loss using technology that could infringe the one used in Soliris, the sole revenue earner for Alexion, analysts said.

Novartis did not return calls seeking comment.

"We do not believe Novartis is threatening to compete against Soliris," Salveen Richter of Collins Stewart said.

"We believe Novartis initiated this opposition to have the patent invalidated so it can pursue the development of its own C5 antibody for the treatment of age-related macular degeneration," Richter said.

Alexion's technology inhibits the inflammatory and cell-destruction properties of the C5 protein, while leaving its disease-prevention functions intact.

In a regulatory filing Thursday, Cheshire, Connecticut-based Alexion said its patent, valid in 14 countries in Europe, expires May 1, 2015.

Alexion derives all its revenue from Soliris, which is currently indicated for the treatment of paroxysmal nocturnal hemoglobinuria (PNH) -- a disorder that can lead to anemia, fatigue, pain and difficulty in breathing.

It is the only available treatment for PNH and has European marketing exclusivity through June 2017.

Soliris is also being tested in four clinical trials for atypical hemolytic uremic syndrome (aHUS), a rare disease that can lead to kidney failure. [ID:nSGE6510F0]

Shares of the company were down about 2 percent at $56.70 on Nasdaq Thursday, a day after hitting a near ten-year high of $58.67. The stock has risen 35 percent over the last year.

Novartis' U.S.-listing was trading down 35 cents at $50.94 on the New York Stock Exchange.

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