Court countermands new Patent Office rules
WASHINGTON The U.S. District Court for the Eastern District of Virginia has thrown out new U.S. Patent and Trademark Office rules which were designed to limit the size of patent applications and reduce a growing backlog of patent requests, according to Reuters. The patent office had argued the limits were needed to reduce a large and growing backlog of applications.
Because the new rules were to be retroactive, companies like GlaxoSmithKline feared they would have to refile applications that exceeded the new limits, at a time when the patent office takes 32 months on average to either approve or reject a patent.
Judge James Cacheris wrote, “The court finds that the final rules are substantive in nature and exceed the scope of the USPTO’s rulemaking authority.”
Under the new rules, the number of claims in each patent application would have been limited to 25. The rules would have also limited follow-up filings to three. Applicants could have asked for more, but would have had to show cause. Currently, there are no limits on claims or continuations.
Arcadia funds DailyMed with $5 million debt facility
INDIANPOLIS Arcadia Resources, a provider of consumer health services doing business under the trade name of Arcadia HealthCare, has obtained a new $5 million debt facility to fund the growth of DailyMed and its related pharmacy fulfillment strategy.
DailyMed, which launched April 2006, is a retail drug packaging solution that pre-sorts multiple prescriptions, OTC medications and vitamins into easy-to-use single-dose packets.
“The financing will provide Arcadia with the cash to fund DailyMed and our related pharmacy fulfillment strategy and the working capital needs associated with the pharmacy business growth anticipated during our fiscal year beginning April 1, 2008,” stated Marvin Richardson, president and chief executive officer. “This deal represents an important first step towards executing our fiscal 2009 growth strategy and is significant in that the majority of debt will be used to grow our DailyMed business rather than meet core operating cash obligations.”
The facility matures on Oct. 31, 2009, bears interest at an annual rate of 10 percent and is secured by certain company assets.
FDA approves Sun’s generic Tessalon
WASHINGTON Sun has received FDA approval for a generic version of Forest Laboratories’ Tessalon capsules, a treatment for coughs due to the common cold, pneumonia and other lung infections.
The company, a week ago, also announced it had received FDA approval for its generic version of Pfizer’s Cerebyx (fosphenytoin sodium), an injectable anticonvulsant that has annual U.S. sales of approximately $15 million.
Brand and generic Tessalon (benzonatate) have annual U.S. sales of approximately $40 million, according to Sun.