Rigel climbs on blood disorder drug patent settlement

Rigel Pharmaceuticals

27/03/2025 14:19

** Shares of drugmaker Rigel Pharmaceuticals RIGL.O rise ~3% to $19.54

** RIGL says it has settled patent litigation with Annora Pharma regarding co's blood disorder drug, Tavalisse, to treat patients with immune thrombocytopenia (ITP) who haven't responded adequately to prior treatments

** Lawsuit began when Annora submitted an application to the FDA to market a generic version of Tavalisse

** ITP is a condition where the immune system mistakenly attacks and destroys platelets, leading to a low platelet count and increased risk of bleeding

** Under the settlement, Annora will be allowed to sell its generic version starting in Q2 2032 or earlier under certain circumstances

** Annora did not immediately respond to Reuters' request for comment

** RIGL gained 33.6% in the last 12 months

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))