Biogen stock declines as patent office says Mylan patent win likely
Biogen Inc. shares declined in the extended session Wednesday after the U.S. Patent and Trademark Office said Mylan NV could likely succeed in a patent challenge to a Biogen multiple sclerosis drug. Biogen shares fell 2.8% after hours, following a 1.1% decline to close at $333.24. In a decision, the USPTO said that of 20 patent claims against Biogen's drug Tecfidera, Mylan "has demonstrated a reasonable likelihood that it will succeed on at least one of its challenges to patentability." On the other hand, shares of Mylan also declined, falling 1.5% after hours, following a 0.4% decline to close at $30.97. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.