Generic pharmaceuticals giant Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) believes that a US court ruling in its favor will allow the company to exclusively market generic versions of two hypertension drugs produced by Merck.
Based on IMS data, annual US sales of the branded products were about $1.5 billion.
Teva said that the US Court of Appeals for the District of Columbia Circuit has overturned a July 31, 2009 district court decision which held that Teva forfeited 180-day marketing exclusivity for its generic versions of Merck's hypertension drugs Hyzaar (hydrochlorothiazide; losartan potassium) and Cozaar (losartan potassium).
Teva’s abbreviated new drug applications will be eligible for final approval in April 2010. Teva says it should be eligible to receive 180-day Hatch-Waxman statutory exclusivity to market these products.
Teva's lawsuit will now be remanded to the district court for the entry of relief consistent with today's decision.
Shares in Teva rose 0.56% to $60.95 yesterday, giving a market cap of $53.94 billion. Teva shares ended last year at a price of $56.18.
Published by Globes [online], Israel business news - www.globes-online.com - on March 3, 2010
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