"Bloomberg" reports that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has sued Mylan Inc., which is seeking to market its own generic version of birth control pills LoSeasonique and Seasonique. Teva currently markets generic versions of those drugs.
The pills are based on the active ingredients ethinyl estradiol and levonorgestrel.
The patent related to LoSeasonique expire in 2023 and the patent tied to Seasonique expires in 2024, and Teva wants to halt FDA approval for Mylan's versions until the patents expire.
In the fourth quarter of 2009, Teva's women's health division, which includes its generic Seasonique, generated $77 million in revenue, down from $103 million in the previous quarter. The women's health division mostly represents operations acquired in Teva's purchase of Barr.
Shares in Teva fell 0.57% on Friday to close at $61.30, giving a market cap of $54.25 billion. Its share price is up in 2010, having ended 2009 at $56.
Published by Globes [online], Israel business news - www.globes-online.com - on March 14, 2010
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