Court Denies King Pharma's Petition For Rehearing And Rehearing En Banc

(RTTNews) - King Pharmaceuticals Inc. (KG | charts | news | PowerRating) on Monday said the U.S. Court of Appeals for the Federal Circuit has denied its petition for rehearing and rehearing en banc.

The Bristol, Tennessee-based company filed the petition following the Court's decision in September regarding the validity of United States Patent, a composition of matter patent for Altace or ramipril.

The decision applied the recent U.S. Supreme Court decision in the KSR International v. Teleflex case to invalidate the patent on the basis of obviousness.

King is evaluating its remaining legal options with respect to the patent following today's decision to deny the petition.

KG is currently trading at $10.57, down 2 cents.

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