The Southern District of New York dismissed Teva’s lawsuit against Mylan for the infringement of patents on its MS treatment.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has had a lawsuit against Mylan Inc. (Nasdaq: MYL) for the infringement of Copaxone’s patents dismissed by the US District Court for the Southern District of New York. Judge Katherine Forrest dismissed Teva’s lawsuit alleging that Mylan’s Abbreviated New Drug Application (ANDA) for its generic version of the multiple sclerosis treatment would infringe four patents held by Teva.
However, Teva’s battle to protect its flagship branded drug continues in the US courts. The same court had previously upheld nine other Teva patents on Copaxone. Mylan is appealing to the Federal Circuit on that decision and anticipates that a favorable appellate decision on these patents would clear it for launch on receipt of final regulatory approval.
In July 2012, the English High Court ruled in favor of Teva’s patent on Copaxone and prohibited Mylan from launching a generic version.
In 2012 Copaxone sales reached a record $4 billion out of total Teva revenue of $20.3 billion.
Teva said in response, “Yesterday’s decision has no impact on our ongoing patent litigation with Mylan and Sandoz, in the US District Court for the Southern District of New York, relating to Copaxone, which is currently under appeal. The patents at question in yesterday’s decision are different than those involved in the appeal. We are reviewing the decision and have no further comment at this time.”
On news of Teva’s court defeat the company’s share price fell 1.1% on the NYSE to $39.41, giving a market cap of $33.6 billion.
Published by Globes www.globes-online.com