Hedge Fund Adds Jazz Drug To List Of AIA Review Targets

Law360, New York (April 7, 2015, 3:13 PM EDT) -- An organization tied to hedge fund manager Kyle Bass on Monday asked the Patent Trial and Appeal Board to invalidate a patent covering Jazz Pharmaceuticals Inc.'s narcolepsy drug Xyrem, the latest in a series of America Invents Act review petitions that the group has filed challenging drug patents.

The Coalition for Affordable Drugs, a wholly owned subsidiary of Bass' Hayman Credes Master Fund LP, said in its petition for inter partes review that Jazz's patent should be found invalid as obvious.

According a February statement by Jazz, Xyrem had net sales of $778.6 million in 2014, which made up 66 percent...

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