{"schema_version":"1.0","type":"article","title":"TAHO Doubles in Two Weeks, but a Court Holds Its US Clock","url":"https://drugnews.com.tw/articles/2026-11-05-taho-beqia-eliquis-patent-suit-30-month-clock-en.html","markdown_url":"https://drugnews.com.tw/articles/2026-11-05-taho-beqia-eliquis-patent-suit-30-month-clock-en.md","lang":"en","date":"2026-11-05","publish_at":"2026-11-05T08:00:00+08:00","updated_at":"2026-11-05","category":"商業分析系列","topic":"商業分析系列","tags":["泰合","BEQIA","Eliquis","505(b)(2)","專利訴訟"],"summary":"TAHO (6467) closed at NT$246 on Nov 3, 2026, up 133% from its NT$105.6 IPO price on Japanese royalty news. A BMS-Pfizer patent suit in Delaware can stay final FDA approval of BEQIA for up to 30 months, Medicare's negotiated Eliquis price already fell 56% in 2026, and settled generics enter from April 1, 2028: BEQIA's US value depends on when, and at what price, it can launch.","key_points":["TAHO (TWSE: 6467) closed at NT$246 on November 3, 2026, up 133% from its October 20, 2026 offering price of NT$105.6.","BMS and Pfizer sued TAHO over BEQIA in the US District Court for Delaware in October 2026; under Hatch-Waxman, final FDA approval can be stayed for up to 30 months, to around spring 2029.","Medicare's negotiated 30-day price for Eliquis is US$231, 56% below the 2023 list price of US$521, effective January 1, 2026; settled generic apixaban can launch from April 1, 2028."],"facts":[{"claim":"TAHO (6467) closed at NT$246 on 2026-11-03.","value":null,"unit":"","as_of":"2026-11-03","source":"https://www.twse.com.tw/rwd/zh/afterTrading/MI_INDEX?date=20261103&type=ALLBUT0999&response=json"},{"claim":"TAHO listed on 2026-10-20 at an offering price of NT$105.6.","value":null,"unit":"","as_of":"2026-10-20","source":"https://money.udn.com/money/story/5607/9827028"},{"claim":"TAHO's pre-listing auction weighted average price was NT$177.88.","value":null,"unit":"","as_of":"2026-10-16","source":"https://drugnews.com.tw/filings/6467.html"},{"claim":"Miyarisan filed a Japanese NDA for a TAH4411 pediatric acute gastroenteritis vomiting indication on 2026-10-30.","value":null,"unit":"","as_of":"2026-10-30","source":"https://drugnews.com.tw/filings/6467.html"},{"claim":"BMS and Pfizer sued TAHO over BEQIA in the US District Court for Delaware, case 1:26-cv-01374.","value":null,"unit":"","as_of":"2026-10-29","source":"https://drugnews.com.tw/filings/6467.html"},{"claim":"TAHO received the BEQIA patent complaint on 2026-10-23 US time.","value":null,"unit":"","as_of":"2026-10-27","source":"https://uanalyze.com.tw/articles/3641057737"},{"claim":"BEQIA's US NDA goal date is 2027-04-22.","value":null,"unit":"","as_of":"2026-09-07","source":"https://www.tahopharma.com/news-detail/132/"},{"claim":"BMS reported 2025 Eliquis revenue of US$14.4 billion worldwide (+8%) and US$10.2 billion in the US.","value":null,"unit":"","as_of":"2026-02-05","source":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000002/a2025q4ex991.htm"},{"claim":"The FDA's 2016 final rule confirms the 30-month stay applies to 505(b)(2) applications.","value":null,"unit":"","as_of":"2016-10-06","source":"https://www.govinfo.gov/content/pkg/FR-2016-10-06/html/2016-22690.htm"},{"claim":"The Delaware court upheld the Eliquis compound and formulation patents in August 2020.","value":null,"unit":"","as_of":"2020-08-05","source":"https://www.biopharmadive.com/news/bristol-myers-pfizer-eliquis-patent-court-ruling/583027/"},{"claim":"Non-settling generics Sigmapharm, Sunshine Lake and Unichem were blocked until 2031.","value":null,"unit":"","as_of":"2020-08-05","source":"https://www.biopharmadive.com/news/bristol-myers-pfizer-eliquis-patent-court-ruling/583027/"},{"claim":"The Federal Circuit affirmed the Eliquis patent ruling on 2021-09-03.","value":null,"unit":"","as_of":"2021-09-03","source":"https://www.cafc.uscourts.gov/opinions-orders/20-2229.opinion.9-3-2021_1829263.pdf"},{"claim":"Settled generic apixaban can launch in the US from 2028-04-01.","value":null,"unit":"","as_of":"2021-09-03","source":"https://news.bms.com/news/details/2021/The-Bristol-Myers-Squibb-Pfizer-Alliance-is-pleased-with-the-decision-by-the-U.S.-Court-of-Appeals-for-the-Federal-Circuit-upholding-the-Eliquis-Patents/default.aspx"},{"claim":"Medicare's negotiated 30-day Eliquis price is US$231, 56% below the US$521 2023 list price, effective 2026-01-01.","value":null,"unit":"","as_of":"2024-08-15","source":"https://www.cms.gov/newsroom/fact-sheets/medicare-drug-price-negotiation-program-negotiated-prices-initial-price-applicability-year-2026"},{"claim":"FDA's 2019 analysis found prices about 79% below brand with four generic competitors and more than 95% lower with six or more.","value":null,"unit":"","as_of":"2019-12-01","source":"https://www.fda.gov/media/133509/download"}],"sections":["01｜Two limit-ups, bought on Japanese royalties","02｜Why a thin film drew Pfizer and BMS into court","03｜The last wave of challengers ended up with a date","04｜30 months: the second clock behind the FDA goal date","05｜The price yardstick was already cut in 2026","06｜Taiwanese drugmakers have fought this before, and it usually ends with a date","07｜Two clocks, one share price","References"],"references":[{"title":"TAHO announces Miyarisan filed Japanese NDA for TAH4411 pediatric indication","source":"TWSE Market Observation Post System (6467","date":"2026-10-30","url":"https://drugnews.com.tw/filings/6467.html"},{"title":"TAHO correction notice: case number for BEQIA (TAH3311) US patent suit","source":"TWSE Market Observation Post System (6467","date":"2026-10-29","url":"https://drugnews.com.tw/filings/6467.html"},{"title":"TAHO pre-listing capital increase fully paid (auction weighted average NT$177.88","source":"TWSE Market Observation Post System (6467","date":"2026-10-16","url":"https://drugnews.com.tw/filings/6467.html"},{"title":"TAHO announces FDA goal date for its anticoagulant oral film NDA","source":"TAHO Pharmaceuticals","date":"2026-09-07","url":"https://www.tahopharma.com/news-detail/132/"},{"title":"TAHO rises 89% on first trading day","source":"Economic Daily News","date":"2026-10-20","url":"https://money.udn.com/money/story/5607/9827028"},{"title":"TAHO anticoagulant oral film sued by US drugmakers","source":"UAnalyze (via Cnyes","date":"2026-10-27","url":"https://uanalyze.com.tw/articles/3641057737"},{"title":"TAHO doubles on debut","source":"UAnalyze (via Cnyes","date":"2026-10-20","url":"https://uanalyze.com.tw/articles/6979657412"},{"title":"Pharma associations push to shorten generic launch timelines","source":"Economic Daily News","date":"2026-10-26","url":"https://money.udn.com/money/story/5607/9838113"},{"title":"Bristol Myers Squibb Reports Fourth Quarter and Full-Year 2025 Financial Results","source":"US SEC Form 8-K Exhibit 99.1","date":"2026-02-05","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000002/a2025q4ex991.htm"},{"title":"Bristol Myers, Pfizer win Eliquis patent case, delaying generics","source":"BioPharma Dive","date":"2020-08-05","url":"https://www.biopharmadive.com/news/bristol-myers-pfizer-eliquis-patent-court-ruling/583027/"},{"title":"The Bristol Myers Squibb-Pfizer Alliance is pleased with the decision by the U.S. Court of Appeals for the Federal Circuit upholding the Eliquis Patents","source":"BMS press release","date":"2021-09-03","url":"https://news.bms.com/news/details/2021/The-Bristol-Myers-Squibb-Pfizer-Alliance-is-pleased-with-the-decision-by-the-U.S.-Court-of-Appeals-for-the-Federal-Circuit-upholding-the-Eliquis-Patents/default.aspx"},{"title":"Bristol-Myers Squibb Co. v. Sigmapharm Laboratories, LLC, No. 2020-2229","source":"US Court of Appeals for the Federal Circuit","date":"2021-09-03","url":"https://www.cafc.uscourts.gov/opinions-orders/20-2229.opinion.9-3-2021_1829263.pdf"},{"title":"Abbreviated New Drug Applications and 505(b)(2) Applications, Final Rule","source":"Federal Register Vol. 81 No. 194","date":"2016-10-06","url":"https://www.govinfo.gov/content/pkg/FR-2016-10-06/html/2016-22690.htm"},{"title":"Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026","source":"CMS","date":"2024-08-15","url":"https://www.cms.gov/newsroom/fact-sheets/medicare-drug-price-negotiation-program-negotiated-prices-initial-price-applicability-year-2026"},{"title":"Generic Competition and Drug Prices: New Evidence Linking Greater Generic Competition and Lower Generic Drug Prices","source":"FDA","date":"2019-12-01","url":"https://www.fda.gov/media/133509/download"},{"title":"TWSE daily closing quotes and stock trading data (6467, 2026-10-20 to 11-03","source":"Taiwan Stock Exchange","date":"2026-11-03","url":"https://www.twse.com.tw/rwd/zh/afterTrading/MI_INDEX?date=20261103&type=ALLBUT0999&response=json"}],"images":[{"alt":"Three yardsticks for TAHO's share price: NT$105.6 offering price, NT$177.88 auction average, NT$246 close on November 3","url":"https://drugnews.com.tw/assets/articles/taho-beqia-eliquis-patent-suit-30-month-clock-en/fig4_price_anchor_en.png"},{"alt":"Where apixaban acts in the clotting cascade, and what BEQIA changes","url":"https://drugnews.com.tw/assets/articles/taho-beqia-eliquis-patent-suit-30-month-clock-en/fig1_mechanism_en.png"},{"alt":"BEQIA's two clocks: FDA review and patent clearance, two gates before a US launch","url":"https://drugnews.com.tw/assets/articles/taho-beqia-eliquis-patent-suit-30-month-clock-en/fig2_timeline_en.png"},{"alt":"Before and after April 2028: BEQIA's US competitor changes","url":"https://drugnews.com.tw/assets/articles/taho-beqia-eliquis-patent-suit-30-month-clock-en/fig3_price_frame_en.png"}],"cover_image":"https://drugnews.com.tw/assets/articles/taho-beqia-eliquis-patent-suit-30-month-clock-en/cover.png","publisher":{"name":"Drugnews｜藥時事","url":"https://drugnews.com.tw/","profile":"https://drugnews.com.tw/brand-profile.json"},"citation":"Drugnews｜藥時事（2026-11-05）。TAHO Doubles in Two Weeks, but a Court Holds Its US Clock。https://drugnews.com.tw/articles/2026-11-05-taho-beqia-eliquis-patent-suit-30-month-clock-en.html","disclaimer":"This article is intended for industry research and knowledge sharing only. It does not constitute investment, medical, fundraising, or individual stock advice.","translations":{},"relationship":"independent_editorial","disclosure_url":"https://drugnews.com.tw/policy/","ai_question":"What changed for TAHO (TWSE?"}