Ann: Clarification of recent analyst report on Patent Protection, page-10

BANG! Nice to see them come out swinging like this. Analyst reports have previously informed holders of the virtually-impossible task faced by manufacturers of generic PPS, or attempts at creation of therapeutic biosimilars - but I never thought i'd see Paradigm put this in an ASX announcement. They didn't have to, but i'm quite pleased they did. Even spelling out (which informed holders already knew) that any attempted generic/biosimilar competitor would have to go through full trials before their version was considered for approval for human use. Once again, for any doubters, here it is in black and white: i) Bene have the only PPS approved for human use and it has a massive moat around it ii) Paradigm has exclusive global rights to the supply of Bene's product for the range of indications including the treatment of OA/BMEL.

What I also found extremely interesting from this announcement is the claim that our deal with Bene gives us de facto "composition of matter" protection. This is a meaningful phrase for PAR to use. They are basically saying that PAR have a level of protection equal to ownership of the drugs IP. I can't imagine them saying this without prior approval of Bene.

https://en.wikipedia.org/wiki/Composition_of_matter