US Bancorp Piper Jaffray reported the drugs, and said that Merck is suing Teva for violating the patent on its Vioxx drug.
US Bancorp Piper Jaffray reported today that Teva (Nasdaq: TEVA; TASE:TEVA) has added two significant drugs to its pipeline. Piper Jaffray learned about the drugs from lawsuits filed by the company, and also against it.
Merck & Co. (NYSE: MRK) filed suit against Teva on August 4 for violating its patent on the Vioxx drug, sales of which are estimated at $2 billion annually.
Piper Jaffray does not know whether Teva is the first company to file a request for US Food and Drug Administration (FDA) approval of its generic version of the drug. The company whose generic version is approved first is granted a 180-day period in which it has the exclusive right to sell a generic version.
Vioxx, which acts as a pain reliever, is one of the world’s most successful drugs for treating chronic arthritis.
Published by Globes [online] - www.globes.co.il - on August 12, 2003