Benzinga - by Vandana Singh, Benzinga Editor.
Moderna Inc. (NASDAQ:MRNA) is set to clash with Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) in a pivotal London patent trial concerning the development of COVID-19 vaccines.
The High Court is slated to address a legal complaint brought by Moderna. It alleges patent infringement by its competitors in utilizing the mRNA platform crucial to vaccine development, a claim Pfizer and BioNTech have refuted by asserting patent invalidity.
Related: Arbutus Vs. Moderna Patent Dispute Over Covid-19 Vaccine Gets Response From Judge.
This legal showdown is part of a global series of intellectual property disputes revolving around mRNA technology.
This technology has been a revenue generator for the pharmaceutical industry, notably benefiting major players like Moderna, Pfizer, and BioNTech.
If successful, Moderna stands to gain a portion of the profits derived from Pfizer and BioNTech’s joint vaccine, Comirnaty.
This could potentially influence similar litigations worldwide and enhance the reputations of the prevailing parties, the Financial Times notes.
Moderna’s lawsuit in London is not aimed at halting the use of the Pfizer/BioNTech vaccine but seeks acknowledgment of patent infringement and compensation.
With declining sales of its Spikevax product, Moderna eyes royalties from Comirnaty to offset losses.
The outcome of this legal battle extends beyond financial gains, potentially shaping the future landscape of mRNA-based products, particularly in areas like cancer treatment and autoimmune diseases.
While a verdict in the London case is pending, previous decisions have not uniformly favored Moderna, indicating prolonged litigation.
A parallel trial in May will delve into Moderna’s amendment of its intellectual property pledge, a move contested by Pfizer and BioNTech, underscoring the complexity and novelty of the legal dispute.
Read Next: Moderna’s Next Gen COVID Vaccine Meets Primary Goal In Late-Stage Trial.
Price Action: PFE shares are up 0.13% at $26.30, and MRNA stock is up 3.57% at $ 108.19 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.