I Called It: Kyle Bass’s First Two IPR Petitions Fail

Kyle Bass, the hedge fund manager who filed a number of inter partes review petitions against pharmaceutical companies, has struck terror into the shriveled hearts of the pharmaceutical industry. The first petitions he filed were against Acorda Therapeutics, and its stock dropped on the news.

The pharmaceutical industry immediately started lobbying to change IPR procedures to make themselves invulnerable. Senator Coons even offered an amendment to the PATENT Act to block IPR petitions from anyone who hasn’t been sued for patent infringement. (The amendment failed.)

I, however, have been saying for some time that those petitions were likely to be denied:

(I actually was on a panel at NYU Law School with Acorda’s general counsel a couple of months ago, and I told her then that I expected those petitions to be denied.)

Well, guess what?

Matt - I called it

That’s right, Kyle Bass’s petitions against Acorda were both denied.

Once again, the pharmaceutical industry has suffered no harm from inter partes review.

Any chance they’ll decide to leave it alone now?