CPRX Stock Rises 17% on Settling Firdapse Patent Litigation With Teva

Core Viewpoint - Catalyst Pharmaceuticals has reached a settlement with Teva Pharmaceuticals regarding the patent litigation for Firdapse, which has positively impacted its stock price, increasing by 16.7% [1][5]. Group 1: Settlement Agreement - The settlement resolves the patent litigation initiated by Catalyst and SERB against Teva for filing an abbreviated new drug application (ANDA) for a generic version of Firdapse before the expiration of applicable patents [2]. - Teva has agreed not to market its generic version of Firdapse in the U.S. before February 25, 2035, unless specific exceptions arise [5]. - Ongoing litigation against other defendants, such as Hetero and Lupin, continues regarding Firdapse patents [6]. Group 2: Product Performance - Firdapse is currently approved in the U.S., EU, and Japan for treating Lambert-Eaton Myasthenic Syndrome (LEMS) in adults, with a label expansion for pediatric patients approved in 2022 [3]. - Firdapse accounted for 65% of Catalyst's net product sales in 2023, generating $223.5 million in revenues in the first nine months of 2024 [8]. - Catalyst also markets two other drugs, Fycompa and Agamree, which provide additional revenue streams [9]. Group 3: Recent Developments - Catalyst acquired U.S. rights for Fycompa from Eisai and North American rights for vamorolone from Santhera Pharma in 2023 [10]. - Catalyst's stock has outperformed the industry, gaining 14.5% over the past three months compared to a 7.7% decline in the industry [4].