Gilead Sciences, Inc (NASDAQ:GILD), one of the Best Biotech Stocks, is facing a major challenge at the moment. This follows a recent move by two humanitarian organizations who went ahead to challenge the European patent which had been granted to the company earlier on.
Gilead Sciences will never forget the major setback that occurred after European regulators made the move to decline the upholding of its patent claims. This was of course in regards to the best-selling Sovaldi hepatitis C treatment and according to some inside sources, the move would most probably result to the creation of the generic versions .These versions may be hitting the markets four years earlier than was expected.
From trusted reports, it was revealed that on Tuesday the European Patent Office had arrived at a decision to amend several patent claims which had been challenged by Medicins Du Monde, which happens to be a medical aid charity.
Medicins Du Monde had raised a number of arguments and the real issue was that Gilead had over time been abusing the patent system. It added to say that the company was charging prices that locked out most of the patients since they couldn’t afford the services.
The pro-drug, which allows the body to metabolize the medicine, was the center of attention. It was critically challenged on the basis that the company had miserably failed to fully disclose the true nature of its latest innovation.
The president of Medicins du Monde, Dr. Françoise Sivignon in a statement termed the patent a flawed one. He added to say that it had been taken advantage of by the top pharmaceutical with the intention of imposing great pressure on the various states in Europe which had welcomed the exorbitant prices resulting into treatment restrictions for suffering persons.
One of Gilead’s Spokespersons on behalf of the company made a statement which maintained that the patent in wholeness wasn’t revoked. The European Patent Office went ahead to declare that indeed Sovaldi was backed up by a valid European patent.
The spokesman concluded by saying that there would be no impact on the chances of the products arriving before 2018. The company happens to be one of the Top Biotech Stocks and being the industry leader it has been all through, it will be able to put its house in order.