Pfizer, BioNTech fall as GSK sues over 19 vaccine technology – XM

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Reuters

Apr 25, 2024 at 3:50 pm GMT

** Shares of vaccine makers Pfizer PFE.N and BioNTech BNTX.O fall between 2% to 3%

** Drugmaker GlaxoSmithKline GSK.L sues BNTX and PFE accusing them of infringing its patents related to messenger RNA (mRNA) technology in the companies' blockbuster COVID-19 vaccines

** GSK says that PFE and BNTX's Comirnaty vaccines violate its patent rights in mRNA-vaccine innovations developed "more than a decade before" the outbreak of the COVID-19 pandemic

** GSK also asked the Delaware federal court for an unspecified amount of monetary damages from both companies that includes an ongoing patent-licensing fee

** A Pfizer spokesperson said in a statement that the company is "confident in our IP position around Comirnaty" and intends to "vigorously defend" against GSK's claims, while a BioNTech spokesperson declined to comment

** Including session moves, PFE down 11.3% and BNTX down 18.1% YTD

Reporting by Sneha S K in Bengaluru

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Pfizer, BioNTech fall as GSK sues over 19 vaccine technology - XM