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BUZZ-BTG: hit as court invalidates J&J cancer drug patent

Reuters - UK Focus

** Shares (Berlin: DI6.BE - news) in British healthcare group BTG (Frankfurt: 908827 - news) fall more than 5% after U.S. court invalidates patent on blockbuster prostate cancer drug Zytiga from partner Johnson & Johnson (NYSE: JNJ - news)

** BTG earns royalties on sales of the drug, which generated nearly $2.3 billion in revenue for J&J in 2016

** Zytiga patent is due to expire in 2027 and action by administrative court brings rivals closer to selling cut-price generic versions, although J&J may ask federal appeals court to reverse decision

** BTG says previous guidance on Zytiga royalties is unchanged and it believes earliest likely U.S. generic entry would be October 2018