U.S. hedge fund manager Kyle Bass, best known for predicting the subprime mortgage crisis in 2008, said Wednesday he plans to take on some of the world’s biggest drugmakers by challenging the validity of their patents at the U.S. Patent and Trademark Office.
During a presentation at a conference in Oslo, Bass, founder of Dallas-based Hayman Capital Management LP, told attendees that some drug companies were holding on to patents by using questionable means. He said he planned to use the PTO’s inter partes review (IPR) process created under the America Invents Act to challenge the patents’ validity. He did not name the companies he intends to target.
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