Pfizer, BioNTech dip as Arbutus charges violation of COVID vaccine patents
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After straight sessions of gains, the shares of Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) dropped Tuesday after Arbutus Biopharma (NASDAQ:ABUS) sued the COVID-19 vaccine makers over patent infringement related to mRNA vaccine technology.
In December 2020, Pfizer (PFE) and BioNTech (BNTX) won the FDA authorization for its messenger-RNA-based COVID-19 shot Comirnaty before rival vaccine maker Moderna (NASDAQ:MRNA) won the U.S. nod for its mRNA-based shot Spikevax.
The lawsuit filed in a New Jersey District Court on Tuesday seeks damages from Pfizer (PFE) and BioNTech (BNTX) over the alleged violation of five patents related to the nucleic acid-lipid nanoparticles used in the delivery of mRNA molecules.
The patent technologies in question are owned by Arbutus (ABUS) and are licensed to Genevant Sciences, a venture between the company and Roivant Sciences (ROIV).
âWe believe that Pfizer and BioNTech could not have created and manufactured effective vaccines at such an unprecedented speed without the existing, proven and patented LNP technologies owned by Arbutus and licensed to Genevant,â ABUS CEO William Collier said.
In 2022, Arbutus (ABUS) and Genevant sued Moderna (MRNA), seeking compensation over the alleged breach of six patents related to the production and sale of its COVID shot.
However, noting that Spikevax was a collaboration between Moderna (MRNA) and the government, the Department of Justice argued in February that the company should not have liability in the case.