Comvita wins British patent fight

Comvita, which makes manuka honey based health products, has won its bid to reinstate a British patent for a wound dressing that was declared invalid last year.

Subsidiary Apimed Medical Honey succeeded in its appeal and was granted a certificate of contested validity, confirming its claim has been tested in court.

The decision comes after Comvita last year reached a settlement with rival Brightwake that would let the British company manufacture, distribute and sell a disputed product in territories where Apimed operates with patent protections.

“The medical grade manuka honey gel sheet patent has not only been restored, but has survived comprehensive scrutiny by the UK legal system,” Comvita chief executive Brett Hewlett said in a statement.

“This will now have a considerable deterrent value both in the UK and elsewhere.”

However, the confirmation does not over-ride the deal brokered with Brightwake.

Last month, Comvita fought off a hostile takeover bid by Singapore’s Cerebos Pacific, with the New Zealand company’s board arguing the $71.6 million offer was opportunistic and came at a time when Comvita was emerging from a period of under-performance.

The financial cost of the appeal were capped and provided for last September, the company said.

“There would be cost benefits to Comvita in any subsequent revocation proceedings which might be launched against the patent in the UK or elsewhere,” Hewlett said. The shares were unchanged at $2.45, and have gained 2.1 percent since the start of the year.

(BusinessDesk)

BusinessDesk.co.nz

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