Actavis Inc. (ACT: Quote) Friday confirmed that the United States Court of Appeals for the Federal Circuit has granted a motion by AstraZeneca (AZN: Quote,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.
| || |
| To receive FREE breaking news email alerts for Actavis Inc. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: email@example.com