Teva to resume Lotrel sale after US ruling, Novartis plans own generic version |
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Tue, 12 Jun 2007 07:05
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ZURICH (Thomson Financial) - Teva Pharmaceutical Industries said yesterday that it plans to resume shipments of its generic version of Novartis AG's blood-pressure drug Lotrel immediately, after a US court withdrew an earlier temporary restraining order.The court earlier found that the Swiss pharma group was unlikely to succeed in patent infringement litigation.Novartis said it will continue to pursue its defence of intellectual property rights since Lotrel has a US patent valid until 2017.Novartis also said it will launch its own authorized generic version of Lotrel through its Sandoz generics division.Novartis reiterated that it is currently evaluating the potential impact of Teva's actions on the full-year 2007 net sales, operating and net income results, with an update planned for July 17, when the group reports first half results.Lotrel had 2006 annual sales of 1.35 bln usd and is only sold in the US.johanna.treeck@thomson.comjmt/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Novartis says US court extends restraining order against Teva 