Pfizer wins Norvasc claim over Mylan |
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Wed, 28 Feb 2007 15:01
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PITTSBURGH (AP) - Attorneys for Mylan Laboratories Inc. said the generic drug maker will appeal a ruling barring it from marketing a generic version of Pfizer Inc.'s popular high blood pressure medication, Norvasc.Pfizer sued Mylan in 2002, claiming Mylan infringed on its patent for Norvasc. Mylan acknowledged infringing on the patent, but said it was invalid because it contained the wrong formula.A trial on the lawsuit was held in November and, on Tuesday, a U.S. District judge ruled in Pfizer's favor.In October 2005, Canonsburg, Penn.-based Mylan got FDA approval to make a generic version of the drug but it was not selling it pending the outcome of the federal court suit in Pittsburgh. Pfizer sold $2.5 billion worth of Norvasc last year alone and Mylan expected to make millions on the generic version because if Mylan won the suit, the company would have had an exclusive 180-day right to market its generic competitor.Mylan CEO Robert J. Coury said he was not surprised by the ruling, but was disappointed. The copmany predicts earnings per share of $1.50 to $1.55 this year.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Pfizer wins patent challenge by Mylan 