Shares of Medtronic PLC (NYSE:MDT) ended Wednesday session in red amid volatile trading. The shares closed down -1.02 points or -1.17% at $86.15 with 4.76 million shares getting traded. Post opening the session at $86.89, the shares hit an intraday low of $85.99 and an intraday high of $87.10 and the price vacillated in this range throughout the day. The company has a market cap of $121.52 billion and the numbers of outstanding shares have been calculated to be 1.40 billion shares.
Medtronic PLC (MDT) announced that it will participate in the Morgan Stanley Global Healthcare Conference on Tuesday, September 13, 2016, in New York.
Omar Ishrak, chairman and chief executive officer of Medtronic, will answer questions about the company beginning at 8:35 a.m. Eastern Daylight Time.
A live audio webcast of the presentation will be available on September 13, 2016, by clicking on the Investor Events link at http://investorrelations.medtronic.com, and an archive of the session will be available on the same webpage later in the day.
Shares of Mylan NV (NASDAQ:MYL) ended Wednesday session in red amid volatile trading. The shares closed down -0.09 points or -0.22% at $40.31 with 6.90 million shares getting traded. Post opening the session at $40.84, the shares hit an intraday low of $40.21 and an intraday high of $40.88 and the price vacillated in this range throughout the day. The company has a market cap of $21.56 billion and the numbers of outstanding shares have been calculated to be 534.91 million shares.
On Sept. 1, 2016 Mylan N.V. (MYL) announced that the U.S. Patent and Trademark Office (PTO) has ruled in favor of Mylan in its inter partes review (IPR) proceeding and found all claims of U.S. Patent No. 8,969,302, which is owned by Yeda Research & Development Co., Ltd. and licensed to Teva Pharmaceuticals Industries Ltd., unpatentable. This is the third patent related to Copaxone® 40 mg/mL to be found unpatentable in the last week.
On Aug. 24, the PTO’s Patent Trial and Appeal Board (PTAB) found Teva’s first two patents, U.S. Patent Nos. are 8,232,250 and 8,399,413, unpatentable in Mylan’s IPR challenge of these patents.
Mylan CEO Heather Bresch commented, “Through significant investment in research and development and by challenging these invalid patents, we are working to bring a more affordable generic alternative of Copaxone® to market. Challenging patents is just one of the ways that Mylan helps to ensure patient access to medicines. In the last few years alone, Mylan’s patent challenges have allowed earlier access to generic competition for brand products equating to nearly $20 billion in annual brand sales product and reducing more than 60 years of patent life that otherwise could have blocked generics from entering the market.”