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Jazz Pharma Investors: Did You Catch This Favorable Ruling?

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Shares of Jazz Pharmaceuticals plc - Ordinary Shares JAZZ surged as much as 9 percent after the company got a favorable ruling for its Xyrem patent.

"PTAB ruling declining to institute 18 claims in the '306 Xyrem (dosing adjustment) patent further validates our thesis that 2016 legal events will de-risk near/medium term Xyrem generic risk and provide JAZZ with additional leverage to structure value enhancing patent settlements with the patent challengers," Leerink analyst Jason Gerberry wrote in a note.

Gerberry stated, "This evening the PTAB ruled that Ranbaxy failed to establish a reasonable likelihood it could prevail in its IPR challenge to claims 1-18 of '306, but PTAB did institute proceedings on claims 19-34. PTAB also ruled Endo International plc - Ordinary Shares ENDP's IPR of '306 was rejected in its entirety."

"Effectively, what this means is that the IPR outcome has no bearing on claims 1-18 so JAZZ will continue to have an Orange Book listed patent the generics will need to challenge in district court, a process that could take 2+ yrs," the...