King Pharmaceuticals Reports Plan To File A Motion For Rehearing And Rehearing En Banc
BRISTOL, TN, September 12, 2007 – King Pharmaceuticals reported today that the Company plans to file a motion for rehearing and rehearing en banc with the U.S. Court of Appeals for the Federal Circuit following the Court's recent decision regarding the validity of United States Patent No. 5,061,722, a composition of matter patent for ALTACE® (ramipril). Yesterday's ALTACE® patent decision applied the recent U.S. Supreme Court decision in the KSR International v. Teleflex U.S. case to invalidate the patent on the basis of obviousness. The Company is of the opinion that this application of the law is not consistent with other recent rulings of the Federal Circuit Court. In addition, the Company believes that yesterday's decision relies on factual inaccuracies.
About King Pharmaceuticals®, Inc.
King Pharmaceuticals®, Inc., headquartered in Bristol, Tennessee, is a vertically integrated branded pharmaceutical company. King, an S&P 500 Index company, seeks to capitalize on opportunities in the pharmaceutical industry through the development, including through in-licensing arrangements and acquisitions, of novel branded prescription pharmaceutical products in attractive markets and the strategic acquisition of branded products that can benefit from focused promotion and marketing and product life-cycle management.
About Forward-Looking Statements
This release contains forward-looking statements which reflect management's current views of future events and operations, including, but not limited to, statements pertaining to King's intent to file a motion with the U.S. Court of Appeals for the Federal Circuit. These forward-looking statements involve certain significant risks and uncertainties, and actual results may differ materially from the forward-looking statements. Some important factors which may cause results to differ include: dependence on King's ability to successfully challenge the ALTACE® patent decision. Other important factors that may cause actual results to differ materially from the forward-looking statements are discussed in the "Risk Factors" section and other sections of King's Form 10-K for the year ended December 31, 2006, and Form 10-Q for the second quarter ended June 30, 2007, which are on file with the U.S. Securities and Exchange Commission. King does not undertake to publicly update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.