Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has failed in its legal attempts in the US to delay the start of marketing for generic competition for its branded multiple sclerosis treatment and flagship ethical drug Copaxone.
Chief Justice John Roberts rejected Teva’s motion to put a lower court ruling on hold while it decides on the appeal that Teva has submitted. The ruling by the lower court invalidated Teva’s Copaxone patent from May 2014 rather than September 2015. Teva argued that court proceedings for its appeal are likely to continue up until the time that generic marketing of Copaxone will be allowed.
Pharmaceutical companies seeking to market a rival generic treatment to Copaxone said that generic alternatives will aid multiple sclerosis patients. At present annual use of Copaxone in the US can cost $40, 000.
Copaxone has annual sales worldwide of over $4 billion including $2.2 billion sales in the US.
Published by www.globes-online.com