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Kyle Bass’s campaign to completely wipe out a certain drug patents did not succeed just recently. This is because the U.S. Patent and Trademark Office did not oblige to officially review the two patents on Acorda Therapeutics flagship and the multiple sclerosis drug, which is known as Ampyra.

The decision not to accept the review of the validity of the patents arrived at a time when the pharmaceutical industry is raising some concerns about the hedge fund difficulties to drug patents that intended to make profits by driving the prices of stock downward.

This year In February, Bass started filing the reviews to eliminate the drug patents by using his Coalition for Affordable Drugs, through a procedure known as interpartes review. After the first Ampyra patent review filing was done in February 10th, the price of Acorda’s stock is believed to have dropped 10 percent.

Acorda’s lawyer, known as Gerald Flattmann from the Paul Hastings firm announced that he was actually very happy because of the court’s decision to deny the trial of the two patents. He said that the ruling had further validated the actual strength of the patent portfolio, while actually protecting Ampyra. Kyle Bass and his representatives from the Hayman Capital Management which is based in Dallas could not be reached.

According to Mr. Bass some big powerful companies were actually inappropriately enlarging their patent protection in very questionable manners, like changing the dosage or even the packaging, just to keep their drug prices on the higher side.

However, just recently, the patent office failed to agree with Mr. Bass about the Ampyrapa tents not being new.This current stand by the patent office means the patents will actually not be scrutinized any more, which may be could have led to revocation.

Kyler Bass is known to be the founder of the Dallas-based fund, which is known a Hayman Capital Management. The firm was founded in the year 2006. In 2008, Bass made a lot of fortune and actually became famous internationally when he predicted the subprime mortgage crisis correctly. For some period of time, he became a super star, and many observers concluded that he was a genius who could never make any mistakes.

However, time has proved that the observers were actually wrong on giving Bass so much credit. As time has gone by, he has made some bad calls and formed some unsavory alliances which have affected his career negatively. Everyone in the business field actually thinks that Argentinian Cristina Fernández de Kirchner who is economically not properly learned is not doing well for the country’s economy, Bass decided to support her ideas, despite the kind of mistakes she has been doing.

 

Boston-based insurance company Plymouth Assurance is launching a new tool to help both clients and potential customers buy and sell insurance, as well as manage their own accounts online. The tool, “Prime”, helps streamline the entire process and bridge gaps between the consumer and the agent. Prime is currently available for Massachusetts customers and will be available for those in New Hampshire and Connecticut after Oct, 1 of this year.

Chris Olie, President and CEO of Plymouth Rock Assurance in Massachusetts first introduced the tool in an issue of the Insurance Journal According to Olie, all buyers will have policies written by independent insurance agents. The agents can provide potential customers with information about all types of insurance. It’s a great deal for the agents because they have full ownership of the policy an receive a commission on it for as long as it remains active. “We learned a great deal about the process when the auto insurance platform was rolled out in 2013,” says Olie.

The man who started it all, James Stone, has built Plymouth Rock Assurance into a New England powerhouse of insurance conglomerates. Stone has vast experience in the insurance business, having held the position of Massachusetts Insurance Commissioner for over 10 years. He also lectured at Harvard as an economics professor. According to Wikipedia, Stone founded Plymouth Rock in 1982. His entire group holds the policies of over $1 billion. Stone has also authored many articles and books about the insurance industry. He sits on the board of directors of Cold Springs Harbor Laboratories. Stone is confident is the Prime platform and feels that it will level the playing field for independent agents who don’t sell primarily online.

The reaction to Prime has been better than Plymouth Rock hoped for. The reviews have been very favorable. “We’re excite to see that we have been able to improve everyone’s buying experience,” says Olie. The article was published by the Insurance Journal.