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Ariad files counter-claim against Amgen, Wyeth

SMALLCAP MARKETPLACE
SmallCapInvestor.com Staff | Apr 14, 2007 3:04pm EDT
Rating: Unrated
Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) announced Friday it has filed a counter-claim against Amgen Inc. (Nasdaq: AMGN) and Wyeth (NYSE: WYE) in a patent infringement suit.

In April 2006, Amgen filed a lawsuit against Cambridge, Mass.-based Ariad, which develops drugs to treat cancer. Amgen’s goal was to nullify a patent of Ariad’s in order to protect its Enbrel arthritis drug.

Later in the year, Ariad unsuccessfully sought to have the lawsuit dismissed.

Ariad Chairman and CEO Dr. Harvey Berger said his firm’s counter-claim illustrates Ariad’s “strong belief in the validity and enforceability of” its patent.

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