EXEL - Judge rejects MSN motion to add more patents to Exelixis Cabometyx patent suit

A federal court judge in Delaware has denied a motion from MSN Labs to add three additional patents to an existing case against Exelixis (EXEL -0.4%) regarding Cabometyx (cabozantinib). The existing case involves the '776 patent, which covers the active ingredient in Cabometyx. That trial is slated to start in May. On Wednesday, Exelixis (EXEL -0.4%) filed another lawsuit against MSN Labs regarding the three patents. MSN wants to eventually market a generic version of Cabometyx, which earned ~$1.1B in 2020. Per a Jefferies note today, the judge denied the motion as it considered it moot given Exelixis' (EXEL -0.4%) Wednesday filing on the other three Cabometyx patents prior to the expiration of a 45-day period. Analyst Akash Tewari viewed Friday's court development as positive as adding the three patents to the '776 case could have resulted in a 30-month stay. He added the stock could have 30% upside. Check

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Judge rejects MSN motion to add more patents to Exelixis Cabometyx patent suit