Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has lost a US appeals court bid to stop Watson Pharmaceutical Inc.’s (NYSE: WPI) sales of a generic version of the Seasonique birth-control pill.
The US Court of Appeals for the Federal Circuit in Washington affirmed a lower court ruling that let Watson enter the market even as it awaits the outcome of a patent-infringement lawsuit filed by Teva’s Duramed unit.
Watson began selling a generic version of Teva’s Seasonique contraceptive in July. Teva contends the copy infringes a patent that expires in January 2024, and sought to block sales until a trial on the validity of the patent.
Seasonique generated $110 million in sales in the 12 months ending April 30, New Jersey-based Watson said in July, citing IMS Health data.
Teva's share price fell 0.2% on Nasdaq on Friday to $40.52, giving a market cap of $35.9 billion, and fell 1.6% in early trading on the TASE to NIS 151.
Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011