Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is taking three drug makers and their subsidiaries to court to defend its patent on Azilect, its drug to treat Parkinson's disease.
Teva claims that Watson Pharmaceuticals, Mylan, Orchid Chemicals and Pharmaceuticals, and their subsidiaries submitted requests to produce generic versions of the drug, based on its patent.
The claim, brought in New Jersey, states that the defendants infringed Teva's patent which is valid until 2017. The claim led to the halt of the approval process from the US Food and Drug Administration (FDA) until November 16, 2013, or earlier if a court rules in their favor.
Azilect already has sales of several tens of millions of dollars per year, and Teva hopes to increase the sales in hundreds of millions of dollars.
Teva shares fell 0.07% to $53.48 in midday trading on Nasdaq.
Published by Globes [online], Israel business news - www.globes-online.com - on October 4, 2010
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