Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

AstraZeneca Says US District Court Finds SEROQUEL XR Formulation Patent As Valid

AstraZeneca Plc (AZN: Quote,AZN.L) said Thursday that the US District Court for the District of New Jersey has found the formulation patent protecting SEROQUEL XR (quetiapine fumarate) extended release tablets to be valid.

According to the company, the court has ruled that Anchen Pharmaceuticals Inc., Osmotica Pharmaceutical Corp., Torrent Pharmaceuticals Limited, Torrent Pharma Inc., Mylan Pharmaceuticals Inc., and Mylan Inc. (MYL) have infringed the SEROQUEL XR formulation patent. The SEROQUEL XR formulation patent expires in 2017.

The decision follows a ruling made in the UK on March 22, 2012, which found the formulation patent protecting SEROQUEL XR to be invalid. In the Netherlands, however, on March 7, 2012, the District Court in The Hague found the formulation patent protecting SEROQUEL XR to be valid.

AstraZeneca said it is pleased with the US District Court's decision, which the company believes underlines the strength of its patents.

Seroquel generated $5.83 billion in global sales last year, with $1.4 billion coming from Seroquel XR.

Click here 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
Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast. Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
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.