FOLD Stock Rises on Settling Galafold Patent Dispute With Teva

Core Insights - Amicus Therapeutics (FOLD) has signed a licensing agreement with Teva Pharmaceuticals (TEVA), resolving a patent lawsuit related to its drug Galafold, leading to a 14% increase in FOLD's stock price [1][2]. Group 1: Licensing Agreement and Litigation - The agreement allows Teva to sell a generic version of Galafold in the U.S. starting January 30, 2037, pending FDA approval [2]. - The settlement ends all ongoing litigation between Amicus and Teva regarding Galafold patents, but litigation against Aurobindo Pharma continues [2]. Group 2: Galafold Performance - Galafold, Amicus' lead drug, generated $210.2 million in sales in the first half of 2024, reflecting a 17% year-over-year increase at constant currency [5]. - Amicus has raised its revenue guidance for Galafold for 2024 to a growth range of 14-18%, up from the previous 13-17% [5]. - The drug is protected by a strong intellectual property portfolio in the U.S. until 2038, with potential for label expansion and approvals in new markets [5]. Group 3: Additional Drug Portfolio - Amicus has a second FDA-approved drug, Pombiliti + Opfolda, for treating late-onset Pompe disease, which was approved in September 2023 [6]. - The approval of Pombiliti + Opfolda provides significant commercial opportunities and alleviates revenue pressure on Galafold [6]. Group 4: Stock Performance and Rankings - Year-to-date, FOLD shares have decreased by 15.6%, while the industry has seen a decline of 1.3% [4]. - Amicus currently holds a Zacks Rank 1 (Strong Buy), indicating positive market sentiment [7].