Teva benefitted from a US court issuing a temporary restraining order to prevent Actavis Inc. from marketing its generic version of Pulmicort.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has benefitted from a New Jersey court ruling. In the ruling the court agreed to the request of AstraZeneca plc (NYSE; LSE: AZN) to issue a temporary restraining order to prevent Actavis Inc. (NYSE: ACT) from marketing its generic version of asthma treatment Pulmicort until April 12.
The ruling follows Monday's launch of Actavis's generic version of Pulmicort after the court found that it did not infringe the drug's patent.
Under a 2008 agreement with AstraZeneca, Teva has exclusive rights to sell a generic version of Pulimcort. Teva paid AstraZeneca $260 million in 2012 in royalties.
Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2013
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