Please login to the form below

Not currently logged in
Email:
Password:

AZ shares buoyed by Seroquel patent victory

The US District Court for New Jersey has granted AstraZeneca a summary judgement in its favour
The US District Court for New Jersey has granted AstraZeneca (AZ) a summary judgement in its favour, upholding the company's allegation that Teva Pharmaceutical Industries infringed the patent of its drug, Seroquel.

AZ claimed that Teva and Sandoz, a Novartis owned firm, had violated the drug's patent by filing an abbreviated new drug application (ANDA) to produce and market the generic version of the tablet used for treating bipolar disorder and schizophrenia.

Teva and Sandoz were seeking approval to market the generic form of Seroquel (quetiapine fumarate) in the US before its patent expires in 2011. They were hoping to invalidate the patent by arguing that AZ obtained it improperly but the Court ruled against this accusation.

The New Jersey District Court's decision to grant AZ's motion for summary judgement of 'no inequitable conduct' means that a lengthy and costly trial will not have to take place.

David Brennan, CEO of AZ, said: "We are pleased with the court's decision to uphold our valid intellectual property. Seroquel remains an important part of our company's portfolio, benefiting patients and physicians throughout the world."

AZ's share prices rose nearly 5 per cent on July 2, following the judgement. Analysts at Morgan Stanley said the ruling removes a significant threat to AZ's financial standing, since US profits for Seroquel account for 25 per cent of AZís forecast earnings for 2009.

3rd July 2008

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
emotive.

emotive. is an award-winning healthcare communications agency working with leading global and EMEA companies in life sciences including medical device...

Latest intelligence

patients
Retaining reader value in plain language summaries of clinical studies
Balancing the risk of misinterpretation with the public’s ability to understand simplified plain-language summaries...
Can we talk about the ego-bias and chemicals influencing your target audience’s behaviour?
Over the Summer, the Page & Page team became fascinated by two books on this very subject. Two books from one author, Dean Burnett, an eminent neuroscientist, lecturing at Cardiff...
Paris
Making Europe a leader in bioscience: boosting trust and opening minds
A vision of Paris as Europe's leading hub for life sciences innovation...

Infographics