Breaking News
FONT-SIZE Plus   Neg
Share SHARE

UK Court Rules AstraZeneca's Seroquel XR Patent Invalid

Drug maker AstraZeneca plc (AZN: Quote,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: Quote), Sandoz Ltd., the subsidiary of Novartis AG (NVS: Quote), 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.

Register
To receive FREE breaking news email alerts for AstraZeneca PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
At least 11 people were killed in overnight Israeli air strikes on Gaza. The wife and child of Mohammed Deif, who is on top of Israel's most wanted list, were reportedly killed in the attack. Deif, who lost an eye and limbs in earlier assassination attempts, is the head of Hamas' armed wing - the Qassam Brigades. Hamas leader Mousa Abu Marzouk told media on Wednesday that Israel had targeted Deif Bank of England policymakers split on rate decision this month, for the first time in more than three years as two members said the current economic situation warrant an immediate rate hike from a historic-low. At the August Monetary Policy Committee meeting, Ian McCafferty and Martin Weale sought a quarter-point hike in the bank rate to 0.75 percent. Reserve Bank of Australia Governor Glenn Stevens kept the foreign exchange intervention plan open to build up confidence and bring the stubbornly high currency to lower levels."The exchange rate, another channel through which monetary policy usually has an effect, is probably not doing as much as it might usually be expected to do in achieving balanced growth," he said in his opening statement.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.