A US court invalidated the patent on Pulimcort for which Teva had exclusive rights to sell a generic version.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has lost its exclusivity to market a generic version of AstraZeneca plc's (NYSE; LSE: AZN) asthma treatment Pulmicort Respules, after the US District Court for New Jersey invalidated a patent on the drug.
Under a 2008 agreement with AstraZeneca, Teva had exclusive rights to sell a generic version of Pulimcort. Teva paid AstraZeneca $260 million in 2012 in royalties. The US ruling, which will allow generic versions of the drug, will end the exclusivity, allowing other companies to market generic versions of the drug in the US. AstraZeneca may appeal the ruling.
Published by Globes [online], Israel business news - www.globes-online.com - on April 2, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013