On Wednesday, Shares of Celgene Corporation (NASDAQ:CELG), lost -0.49% to $120.68.
Celgene Corporation, declared the settlement of litigation with Natco Pharma Ltd. of India, Natco’s U.S. partner, Arrow International Limited, and Arrow’s parent company, Watson Laboratories, Inc. (a wholly-owned partner of Allergan plc) regarding patents for REVLIMID® (lenalidomide).
As part of the settlement, the parties will file Consent Judgments with the United States District Court for the District of New Jersey that enjoin Natco from marketing generic lenalidomide before the expiration of the patents-in-suit, except as offered for in the settlement, as described below.
In settlement of all outstanding claims in the litigation, Celgene will permit entry of generic lenalidomide before the April 2027 expiration of Celgene’s last-to-expire patent listed in the Orange Book for REVLIMID®. Celgene has agreed to provide Natco with a license to Celgene’s patents required to manufacture and sell an unlimited quantity of generic lenalidomide in the United States startning on January 31, 2026. In addition, Natco will receive a volume-limited license to sell generic lenalidomide in the United States commencing in March 2022. The volume limit is predictable to be a mid-single-digit percentage of the total lenalidomide capsules dispensed in the United States during the first full year of entry. The volume limitation is predictable to improvement gradually each 12 months until March of 2025, and is not predictable to exceed one-third of the total lenalidomide capsules dispensed in the U.S. in the final year of the volume-limited license under this agreement. Natco’s ability to market lenalidomide in the U.S. will be contingent on its obtaining approval of an Abbreviated New Drug Application.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally. It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID to treat multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, in addition to acute myeloid leukemia (AML).
Shares of NetApp Inc. (NASDAQ:NTAP), declined -0.04% to $26.87, during its last trading session.
NetApp, declared it has reached a definitive agreement to acquire SolidFire for $870 million in cash. Founded in 2010, SolidFire is a market leader in all-flash storage systems built for the next-generation data center where simple scaling, set-and-forget administration, assured performance and multi-tenancy, and cloud economic models are driving new market growth.
“This acquisition will benefit current and future customers looking to gain the benefits of webscale cloud providers for their own data centers,” said George Kurian, chief executive officer of NetApp. “SolidFire combines the performance and economics of all-flash storage with a webscale architecture that radically simplifies data center operations and enables rapid deployments of new applications. We look forward to extending NetApp’s flash leadership with the SolidFire team, products and partner ecosystem, and to accelerating flash adoption through NetApp’s large partner and customer base.”
With SolidFire, NetApp will now have all-flash offerings that address each of the three largest All-Flash Array market segments. For the traditional enterprise infrastructure buyer, the award-winning NetApp All Flash FAS (AFF) product line delivers enterprise-grade features across flash, disk and cloud resources. For the application owner, the NetApp EF Series product line offers world-class SPC-1 benchmarks with consistent low-latency performance and proven 6×9’s reliability. For the next-generation infrastructure buyer, SolidFire’s distributed, self-healing, webscale architecture delivers seamless scalability, white box economics, and radically simple administration. This enables customers to accelerate third platform use cases and webscale economics. SolidFire is an active leader in the cloud community with extensive integrated storage administration capabilities with OpenStack, VMware, and other cloud frameworks.
NetApp, Inc. provides software, systems, and services to manage and store computer data worldwide. It offers Data ONTAP storage operating system that delivers integrated data protection, comprehensive data administration, and built-in software for virtualized, shared infrastructures, cloud computing, and mixed workload business applications; E-Series storage systems for storage area network workloads (SAN); all-flash arrays that deliver input/output operations per second and ultralow latency to drive speed, responsiveness, and value from the applications that control key business operations; and hybrid arrays for mainstream business applications.
Finally, Pulte Group, Inc. (NYSE:PHM), ended its last trade with -0.99% loss, and closed at $17.98.
Pulte Group declared that it will release its fourth quarter 2015 financial results before the market opens on Thursday, January 28, 2016. The Company will hold a conference call to discuss fourth quarter results that same day at 8:30 a.m. (ET).
PulteGroup, Inc., through its auxiliaries, engages in the homebuilding business; mortgage banking operations; and title operations in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on land.
