Spectrum Pharm says Folotyn patent extended

HENDERSON, Nev. -- Spectrum Pharmaceuticals Inc. said Monday that the U.S. government extended the patent on its lymphoma drug Folotyn by five years.

Spectrum said the patent will now expire on July 16, 2022, instead of 2017. The company said the extension gives it five more years of marketing exclusivity for Folotyn, which is a treatment for peripheral T-cell lymphoma in patients who have suffered a relapse or who have not responded to previous treatment.

Spectrum acquired Folotyn in September when it bought Allos Therapeutics. It said sales of Folotyn totaled about $50 million in 2011.

Shares of Spectrum rose 26 cents, or 2.2 percent, to $12.24 in afternoon trading. Its shares are down 30 percent from their 52-week high of $17.48 in mid-July. They traded as low as $8.08 last October.