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Teva Plunges After Two U.S. Copaxone Patents Invalidated

Teva Pharmaceutical Industries Ltd. fell as much as 6.3 percent after a U.S. agency invalidated two of the patents protecting Copaxone, a multiple sclerosis drug that generates 20 percent of its revenue.

The patents are among three being challenged at the U.S. Patent Trial and Appeal Board. The agency is scheduled to issue a final decision on the other one no later than Thursday.

The three patents expire in 2030 and specifically cover administering the drug in a 40-milligram dosage three times a week. The original version of Copaxone, consisting of 20 milligrams taken every day, began facing generic competition last year.

Novartis AG and Momenta...