Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has won a patent infringement suit filed against it by newly acquired Cephalon Inc. (Nasdaq: CEPH) over Teva's generic version of Cephalon's muscle relaxant, Amrix.
US District Court for the District of Delaware Judge Sue Robinson ruled that there was no patent infringement, as the patents were not valid because the technology would be obvious to a skilled chemist
Cephalon and Eurand NV (now Aptalis Pharmaceutical Technologies Inc.) sued Teva subsidiary Barr Pharmaceuticals, Mylan Inc. (NYSE: MYL) and Anchen Pharmaceuticals Inc. in 2008.
Teva acquired Cephalon in May for $6.8 billion. It acquired Barr in mid-2008 for $7.5 billion.
Teva's share price fell 0.3% on Nasdaq on Friday to $49.67, giving a market cap of $46.7 billion. The share price rose 1.9% in early trading on TASE today to NIS 173.30.
Published by Globes [online], Israel business news - www.globes-online.com - on May 15, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011