Gilead Sciences is headed to trial in Delaware federal court this week to fight claims that it owes the U.S. government a share of multibillion-dollar profits from its HIV-prevention drug regimen. The government is seeking more than $1 billion from Gilead for allegedly failing to compensate the Centers for Disease Control and Prevention for discovering that Gilead’s HIV-treatment drug Truvada could help prevent the disease. Jury selection starts today in the case, which marks one of the first times the U.S. government has sued a drug maker to enforce its patent rights.
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With the U.S. Securities and Exchange Commission in the midst of a stunning barrage of enforcement actions against crypto defendants, the industry has developed a sweeping, if long-shot, argument that the U.S. Supreme Court’s recently-formalized “major questions doctrine” should block the agency’s campaign. Alison Frankel explains how crypto’s theory first emerged last fall in the SEC’s closely-watched case against Ripple Labs, then blossomed early this year in the agency’s insider trading case against former Coinbase employee Ishan Wahi, and now has emerged in a Coinbase white paper in which the crypto exchange attempts to convince regulators not to bring an anticipated enforcement action. So far, Frankel writes, the SEC doesn’t seem too worried. But Coinbase has warned that if the agency sues, the major questions doctrine could become a major headache for the agency.
Check out other recent pieces from all our columnists: Alison Frankel, Jenna Greene and Hassan Kanu
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