Actavis Inc. (ACT) Friday confirmed that the United States Court of Appeals for the Federal Circuit has granted a motion by AstraZeneca (AZN,AZN.L) to enjoin Actavis from further distribution of its generic version of AstraZeneca's Pulmicort RESPULES (budesonide inhalation suspension) 0.25, 0.5 mg products, pending resolution of AstraZeneca's appeal before the Court.
As a condition of the injunction, the Court has also ordered that AstraZeneca post a bond of $72 million.
Actavis launched its generic product on April 1, 2013, following a ruling from the U.S. District Court for the District of New Jersey that Actavis' 0.25, 0.5 and 1 mg generic version of Pulmicort RESPULES did not infringe United States Patent No. 7,524,834 and that United States Patent No. 6,598,603 was invalid.
On April 2, 2013, the District Court issued a temporary restraining order prohibiting sales of Actavis' generic product to permit AstraZeneca an opportunity to seek injunctive relief with the Federal Circuit.
Pulmicort RESPULES is a maintenance medicine used to control and prevent asthma symptoms in children ages 12 months to 8 years. For the 12 months ended January 31, 2013, total U.S. brand and generic sales of Pulmicort RESPULES were approximately $1.2 billion.
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