“Bloomberg” reports that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is taking steps to preserve its market share for generic Zoloft. The company has sued several other generic pharmaceutical companies that are planning to launch their own generic versions of the antidepressant, including Novartis AG (NYSE: NVS; LSE: NOV; SWX: NOVZ) generic subsidiary Sandoz Inc. and Lupin Laboratories Ltd. (BSE: 500257). It also suing makers of the active pharmaceutical ingredient (API) for Zoloft.
Teva filed suit in federal court in New Jersey and Delaware to protect its four patents on ways to make crystalline forms of sertraline hydrochloride, the key ingredient in Zoloft.
Pfizer Inc. (NYSE: PFE; LSE: PFZ) is the maker of ethical Zoloft. Last year, Teva obtained US Food and Drug Administration (FDA) marketing approval for generic Zoloft, with a 180-day exclusive marketing period, which will expire in February 2007. Teva’s lawsuits are designed to block the entry of other generic makers into the Zoloft market, estimated at $2 billion a year.
“Bloomberg” says that Pfizer’s sales of Zoloft totaled $1.67 billion in January-September, and that third-quarter sales of the medicine dropped 42% because of the competition from Teva. “Generic Zoloft and other copycat medicines helped profit double at Teva. Generic drugmakers rely on exclusivity periods because they can charge higher prices and set up distribution channels. Prices plunge as more competitors enter the market.”
“Bloomberg” cites court records as showing that, along with Sandoz and Lupin, Teva sued generic drug makers Apotex Inc., Cipla Ltd., Cadila Healthcare Ltd.'s Zydus-Cadila Healthcare, Merck KGaA's Genpharm, and Watson Pharmaceuticals Inc.'s Andrx, and manufacturers Invagen Pharmaceuticals Inc., Hetero Drugs Ltd. and Torrent Pharmaceuticals Ltd.
Published by Globes [online], Israel business news - www.globes.co.il - on January 21, 2007
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