AstraZeneca Asks Court To Rule Quickly In Crestor Patent Row
September 16 2009 - 1:12PM
Dow Jones News
AstraZeneca PLC (AZN) has asked a U.S. court for an early ruling
on a patent dispute over the U.K. company's blockbuster statin
Crestor which is being challenged by a number of generic firms
planning to sell their own versions of the cholestrol-lowering
drug.
The U.K.'s second-biggest drug maker by sales after
GlaxoSmithKline PLC (GSK) filed for summary judgment in the U.S.
District Court for the District of Delaware on Friday, an
AstraZeneca spokesman said. If the court refuses to deal with the
dispute on this basis, the case will have to go to a full trial
which isn't scheduled to take place until February next year, he
added.
The seven generic companies include Mylan Inc. (MY) of the U.S.,
Sandoz, the generic arm of Swiss Novartis AG (NVS) , Canada's
Apotex Inc. and Cobalt Pharmaceuticals Inc., India's Aurobindo
Pharma Ltd. (524804.BY) and Sun Pharmaceutical Industries
(524715.BY) and Par Pharmaceutical Cos. (PRX).
All seven companies announced in 2007 that they intended to sell
generic versions of Crestor. Israel's Teva Pharmaceutical
Industries Ltd. (TEVA) made a later announcement in June last year
and isn't included in the consolidated action.
Giant pharma companies are coming under increasing pressure as
their blockbuster drugs face patent expiry, exposing them to
cheaper generic versions. In addition to an increase in patent
litigation to counter this, the traditional drugmakers are
increasing investment in young biotech companies either buying them
outright or entering into joint ventures to boost their pipelines
which is more cost-effective than building up their own R&D
units.
Crestor, which lowers cholesterol and has also been shown to
lower the risk of heart attacks in patients who wouldn't normally
take a cholesterol-lowering pill, sold $3.6 billion worldwide in
2008.
-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241;
marietta.cauchi@dowjones.com