FOLD Stock Rises on Settling Galafold Patent Dispute With Teva

Amicus Therapeutics FOLD announced that it has signed a licensing agreement with Teva Pharmaceuticals TEVA, which resolves the patent lawsuit filed earlier by FOLD. The litigation arose after Teva submitted an abbreviated new drug application seeking approval to sell a generic version of Amicus' Galafold (migalastat) 123 mg capsules before the related patents expired. The stock jumped 14% on Thursday as investors cheered the dispute settlement with TEVA.Galafold, Amicus’ lead marketed drug, is the first and only approved oral medicine for patients living with Fabry disease, having amenable genetic variants. Under the terms of the agreement, Amicus will grant Teva a license to sell its generic version of Galafold in the United States starting Jan. 30, 2037, pending FDA approval and subject to the fulfillment of certain customary conditions. The agreement ends all ongoing litigation between Amicus and Teva concerning Galafold patents in the U.S. District Court for Delaware. However, the litigation will continue against Aurobindo Pharma as the remaining active party, and the litigation stay remains in place for Lupin.The companies will submit the confidential license agreement for review by the U.S. Federal Trade Commission and the Department of Justice, as required by law. Amicus’ shares jumped 14% on Thursday as investors cheered the dispute settlement with TEVA.Year to date, shares of FOLD have plunged 15.6% compared with the industry’s 1.3% decline.Image Source: Zacks Investment ResearchGalafold – A Key Growth Driver for AmicusGalafold has shown solid uptake since launch driven by continued demand. The sales of the drug have been rising consistently year over year. In the first six months of 2024, the drug generated sales worth $210.2 million, which increased 17% year over year at a constant currency basis. Galafold is currently approved in several countries, including the United States, EU, United Kingdom and Japan.Owing to continued global uptake and sustained patient demand, FOLD increased Galafold's revenue guidance for 2024 in the second-quarter earnings release. The company now anticipates its total Galafold revenues to grow in the range of 14-18% compared with the previous guidance of 13-17%. The drug also has a strong intellectual property portfolio in the United States, providing patent protection through 2038. Label expansion, along with approvals in additional geographies, is likely to drive sales of the drug further in the days ahead.Pompe Disease Drug – An Incremental Source of RevenuesAmicus also has a second FDA-approved drug in its commercial portfolio. In September 2023, the FDA approved Pombiliti (cipaglucosidase alfa) + Opfolda (miglustat) 65mg capsules, a two-component therapy for treating late-onset Pompe disease (LOPD) in adults who weigh more than 40 kg and are not improving on their current enzyme replacement therapy.The approval for Pombiliti + Opfolda in the United States is a huge boost and provides a significant commercial opportunity for Amicus in the long run.Pombiliti + Opfolda is also approved in the EU, including the United Kingdom, for treating LOPD in adults. The drugs are witnessing a strong launch so far, which continues to build momentum with an increasing rate of commercial patient starts.Although the combo drug is yet to gain traction in the market, its approval and consequent launch in multiple geographies have relieved the significant burden on Galafold to generate revenues for Amicus.  Amicus Therapeutics, Inc. Price and Consensus Amicus Therapeutics, Inc. price-consensus-chart | Amicus Therapeutics, Inc. QuoteFOLD’s Zacks Rank and Other Stocks to ConsiderAmicus currently sports a Zacks Rank #1 (Strong Buy).Some other top-ranked stocks in the biotech sector are ANI Pharmaceuticals ANIP and Alnylam Pharmaceuticals ALNY. While ANIP sports a Zacks Rank #1, ALNY carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.In the past 60 days, estimates for ANI Pharmaceuticals’ 2024 earnings per share (EPS) have moved up from $4.69 to $4.81. EPS estimates for 2025 have improved from $5.37 to $5.86, during the same period. Year to date, shares of ANIP have gained 9%.ANI Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 31.32%.In the past 60 days, estimates for Alnylam’s 2024 loss per share have narrowed from $1.20 to 63 cents. Loss per shares estimates for 2025 have narrowed from 34 cents to 26 cents, during the same period. Year to date, shares of ALNY have risen 55%.Alnylam’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 108.53%.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alnylam Pharmaceuticals, Inc. (ALNY): Free Stock Analysis Report Teva Pharmaceutical Industries Ltd. (TEVA): Free Stock Analysis Report Amicus Therapeutics, Inc. (FOLD): Free Stock Analysis Report ANI Pharmaceuticals, Inc. 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