Kyle Bass Strikes Again!

Yesterday evening (April 1, 2015), the “Coalition for Affordable Drugs II LLC” filed two petitions for Inter Partes Review against Shire PLC.  These petitions can be found below as PDF files.

IPR2015-00989 is against U.S. Patent No. 7,056,886.  This is one of the patents protecting Shire’s newly acquired Gattex Kit.  Shire acquired this drug through its acquisition of NPS Pharma on February 21, 2015 for a total cash consideration of approximately $5.2 Billion.  It appears that this was the only drug generating revenue for NPS Pharma.

IPR2015-00988 is against U.S. Patent No. 6,773,720.  This is the only patent protecting Shire’s Lialda in the U.S.  The Patent is currently scheduled to expire in June 2020, so this petition risks a significant amount of exclusivity.  According to Shire SEC filings, Shire’s revenue associated with “…LIALDA/MEZAVANT (up 20% to $634 million)” (Page 52).

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Kyle Bass previously filed two IPR petitions against patents owned by Acorda Therapeutics and it caused a significant negative share-price reaction for ACOR on those dates.

Kyle Bass – Petition 1

Petition 2