The drugmaker's stock jumped more than 6 percent today after a federal court in New Jersey tossed a case brought against Teva Pharmaceutical, which hoped to sell a generic version of the best-selling antipsychotic.
The decision, which Teva plans to appeal, means AstraZeneca can avoid a lengthy trial that was scheduled to have begun next month and gain additional breathing room as it tries to develop new meds to replace those losing patent protection.
The US patent on Seroquel, which generated about $4 billion in sales last year and is AstraZeneca's second-biggest seller, is due to expire in September 2011, although the drugmaker is seeking a six-month extension for pediatric use, which would take extend patent protection until March 2012.
Source: wire reports and company statements
4 Comments
"a federal court in New Jersey tossed a case brought by Teva "
Actually, the case was brought by AstraZeneca. Teva's remaining defense was inequitable conduct and it lost.
Dear Quibbler,
Thanks for quibbling. It's much appreciated. I have gone back to that sentence and made the correction.
Regards ed
I take a drug called "QUEITIAPINE FUMARATE" and my comment is: ASTRAZENECA, the makers of (Seroquel) should I think, warn the pharmacist to not put pills in bottles that "sez" one name on the bottle and "sez" another name on the pills in the bottle. i,e;, on my bottle it reads "QUEITIAPINE FUMARATE" 400MG, but on the pills in the bottle it reads "SEROQUEL" 400MG...
queitiapine fumarate is the generic name for seroquel, but I agree that it should state as much on the outside bottle.