Breaking News
FONT-SIZE Plus   Neg
Share SHARE

UK Court Rules AstraZeneca's Seroquel XR Patent Invalid

RELATED NEWS
Trade AZN now with 

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
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
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.