Eli Lilly Just Lost the Latest Round in its Patent Battle

U.S. Multinationals in Puerto Rico
A sign stands at the entrance to Eli Lilly & Co.'s plant in Guayama, Puerto Rico, on Friday, Dec. 9, 2011. In 1976, the U.S. Congress added a tax credit that effectively exempted from federal income taxes the profits that U.S. companies attributed to Puerto Rico. The combination of the break, close proximity to the U.S. and plentiful industrial sites prompted multinationals to flock to the island, with pharmaceutical and medical device makers leading the way. Photographer: Simone Baribeau/Bloomberg via Getty Images
Photograph by Simone Baribeau — Bloomberg via Getty Images

Eli Lilly (LLY) said on Friday it lost the latest round of a lengthy patent saga over its blockbuster Alimta lung cancer drug in the UK High Court, in a boost for generic drugmaker Actavis, now renamed Allergan .