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TKT Genericizes Proteins

Executive Summary

Following its failed 1993 IPO, TKT embarked on a strategy to develop and market through a larger partner competing versions of top-selling protein drugs. The company's first target: EPO, which currently generates more than $3.3 billion for Amgen annually. EPO and other protein drugs still have several years of patent protection left, but TKT believes it's found a way around those patents with a production process called gene activation.

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Biogenerics Are Coming and They're Not the Generics We Know

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TKT: Bloodied But Unbowed

Amgen was the winner of a late January decision involving its patent dispute with Transkaryotic Therapies Inc. over erythropoietin. Its stock rose about 15% in the three days after the ruling, while TKT's shares slid 40% that week. The judge ruled that TKT's process doesn't infringe Amgen's patent, but the product that TKT makes using that process does. The decision is on appeal. TKT argues that its method is a next-generation protein production technology, but if the decision stands, the company will have to take its first shot at something other than EPO.

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