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ViiV Healthcare sues Gilead over HIV drug containing bictegravir patent infringmenet, Gilead increases dividend 10% after posting net loss in Q4 2017

ViiV Healthcare on Thursday said it has filed patent infringement litigation against Gilead Sciences Inc. over bictegravir in the United States and Canada. 

The global specialist HIV company majority-owned by GSK, with Pfizer Inc. and Shionogi Limited as shareholders, said the United States case is filed in the U.S. District Court for the District of Delaware and the Canadian case is filed in the Canadian Federal Court in Toronto.

ViiV Healthcare said it would seek to prove that Gilead Sciences Inc’s triple combination HIV drug containing the HIV integrase inhibitor bictegravir infringes ViiV Healthcare’s patent covering ViiV Healthcare’s dolutegravir and many other compounds that include dolutegravir’s unique chemical scaffold.

ViiV Healthcare added it will seek financial redress for patent infringement. 

Gilead Sciences on Wednesday said that the U.S. FDA has approved Biktarvy tablet for the treatment of HIV-1 infection.

Gilead on Tuesday posted total revenues for the fourth quarter of 2017 at $5.9 billion, compared to $7.3 billion for the same period in 2016. Net loss for the fourth quarter of 2017 was $3.9 billion, compared to net income of $3.1 billion for the same period in 2016. It also announced that  its board has declared an increase of 10% in the company’s quarterly cash dividend, beginning in the first quarter of 2018.

Gilead’s stock was up 2.38 (2.96%), at $82.76 according to the data as of 02/07/18 4:00 p.m. ET

Image: Gilead’s Biktarvy bottle

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