ROIV - Pfizer BioNTech dip as Arbutus charges violation of COVID-19 vaccine patents

2023-04-04 10:34:48 ET

After straight sessions of gains, the shares of Pfizer ( NYSE: PFE ) and BioNTech ( NASDAQ: BNTX ) dropped Tuesday after Arbutus Biopharma ( NASDAQ: ABUS ) sued the COVID-19 vaccine makers over infringement of its patents related to mRNA vaccine technology.

In December 2020, Pfizer ( PFE ) and BioNTech ( BNTX ) won the FDA authorization for its messenger-RNA-based COVID-19 shot Comirnaty before rival vaccine maker Moderna ( NASDAQ: MRNA ) won the U.S. nod for its mRNA-based shot Spikevax.

The lawsuit filed in a New Jersey District Court on Tuesday seeks damages from Pfizer ( PFE ) and BioNTech ( BNTX ) over the alleged violation of certain patents related to the nucleic acid-lipid nanoparticles used in the delivery of mRNA molecules.

The patent technologies in question are owned by Arbutus ( ABUS ) and are licensed to Genevant Sciences, a venture between the company and Roivant Sciences ( ROIV ).

In 2022, Arbutus ( ABUS ) and Genevant sued Moderna ( MRNA ), seeking compensation over the alleged breach of six patents related to the production and sale of its COVID shot.

However, noting that Spikevax was a collaboration between Moderna ( MRNA ) and the government, the Department of Justice argued in February that the company should not have liability in the case.

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