Teva Pharmaceutical Industries Ltd. (TEVA) said Tuesday that the U.S. District Court for the District of New Jersey has ruled in favor of AstraZeneca Plc (AZN) on a litigation pertaining to the generic equivalent of AstraZeneca drug Seroquel.
The lawsuit relates to the application filed by Teva with the FDA to market its generic version of Seroquel.
The Court granted summary judgment in AstraZeneca's favor on the issue of no inequitable conduct with regard to AstraZeneca's U.S. Patent. Teva indicated plans to appeal this decision.
AstraZeneca's Seroquel tablets are indicated in the treatment of schizophrenia. The drug generated revenues of $4 billion in 2007.
TEVA ended Tuesday's regular trading session at $46.99, up $1.19 or 2.60%. AZN closed Tuesday's regular trading session at $43.42, up 89 cents or 2.09%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.