USPTO grants five-year extension to Spectrum's FOLOTYN patent

Oct 8 2012

Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, today announced that the United States Patent and Trademark Office (USPTO) has extended by five years the U.S. Patent No. 6,028,071, which covers FOLOTYN^® (pralatrexate injection). The extension was granted through the Hatch-Waxman Act and postpones the original July 16, 2017 expiration date to July 16, 2022.

"The extension of the FOLOTYN patent provides Spectrum with an additional five years of exclusive commercial rights to the product. We believe the drug is an important treatment option in relapsed or refractory PTCL and look forward to reaching a greater physician and patient base in the upcoming year," stated Rajesh C. Shrotriya, M.D., Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals, Inc. "In addition, the patent extension confirms substantial expected revenue growth for the Company in the near- and long-term."