FONT-SIZE Plus   Neg

UK Court Rules AstraZeneca's Seroquel XR Patent Invalid

Drug maker AstraZeneca plc (AZN,AZN.L), on Thursday said the UK High Court ruled that the patent for its extended release version of Seroquel XR is invalid.

The High Court decision is limited to the UK and is not binding in other countries, the British drug maker said in a statement. Seroquel XR, an anti-psychotic drug, is AstraZeneca's second largest selling drug.

According to AstraZeneca, the UK court is the first to rule that the Seroquel XR patent is invalid. Earlier this month, the district court in the Hague, Netherlands found the patent protecting Seroquel XR to be valid.

The ruling was in response to the patent challenge from generic drug makers Teva Pharmaceutical Industries Ltd. (TEVA), Sandoz Ltd., the subsidiary of Novartis AG (NVS), Accord Healthcare Ltd, Intas Pharmaceuticals Ltd and Hexal AG.

"AstraZeneca is disappointed with the court's decision. However, the company remains committed to defending its intellectual property protecting Seroquel XR," the company said.

AstraZeneca said it is engaged in many other legal proceedings related to Seroquel XR's patents and regulatory exclusivity, which includes pending trial decisions in US and Spain. The company also last week filed a lawsuit in a US court for overturning the FDA's denial of a bid to delay the entry of generic versions of Seroquel. Seroquel's patent exclusivity expires this month.

AZN is currently trading on the NYSE at $45.21, down 0.48%, on a volume of 1.6 million shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion. Regulators have confirmed the eleventh U.S. fatality linked to Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration or NHTSA said Thursday that a crash fatality in Riverside County, California, was tied to the rupture of a recalled Takata air bag inflator. Reynolds American Inc. (RAI) on Friday confirmed that British American Tobacco plc (BATS.L, BTI) has offered to buy the remaining 57.8 percent stake that it does not own in the US tobacco company for $47 billion. Reynolds said its board of directors will evaluate the offer, and respond accordingly to BAT, which currently owns 42.2 percent stake in Reynolds. The proposal represents an enterprise va
comments powered by Disqus
Follow RTT