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.