A judged erred last year in upholding Teva's patent without holding a trial, the U.S. Court of Appeals for the Federal Circuit said on Friday. The case was sent back to the lower court for further consideration.
Watson has already conceded it infringed upon the patent, leaving the validity of the patent as the only remaining issue to be resolved in the case.
Shares of Watson Pharmaceuticals are trading up 0.5% at $55.91.
Watson Pharmaceuticals has a potential upside of 9.8% based on a current price of $55.91 and an average consensus analyst price target of $61.40.
Watson Pharmaceuticals is currently above its 50-day moving average (MA) of $55.26 and above its 200-day of $48.18.
In the last five trading sessions, the 50-day MA has climbed 0.47% while the 200-day MA has risen 0.65%.
Watson Pharmaceuticals, Inc. develops, manufactures, and sells generic and brand name pharmaceutical products. The Company's core focus is specialty products, nephrology, urology, and generic products.
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