Ironwood Lied To Patent Offices: $500M Suit

Law360, San Diego (December 13, 2011, 8:30 PM EST) -- Synergy Pharmaceuticals Inc. on Monday lodged a $500 million suit in New York state court alleging Ironwood Pharmaceuticals Inc. and one of its executives submitted false statements to U.S. and European patent officials in an attempt to block it from providing rival gastrointestinal drugs.

The New York-based biopharmaceutical company’s suit asserts unfair competition, fraud and deceit, unjust enrichment and other claims against Ironwood and its chief scientific officer.

While the U.S. Patent and Trademark Office has already granted Synergy two patents covering its gastrointestinal inflammatory disorder...
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