March 21, 2007 |
Pfizer Inc. won a court ruling Tuesday blocking Teva Pharmaceutical Industries Ltd. from marketing a generic version of the painkiller Celebrex, the world's top-selling arthritis drug, until 2015. U.S. District Judge John Lifland in Newark, N.J., upheld the validity of three Pfizer patents covering the drug after hearing arguments during a two-week trial in November. "The patents are neither invalid nor unenforceable, and Teva has infringed the patents," Lifland wrote in a 201-page ruling.
March 6, 2007 |
Biovail Corp. reached a settlement with four generic-drug makers that delays sales of cheaper copies of one form of its antidepressant Wellbutrin XL until next year. The deal resolves complaints against Anchen Pharmaceuticals, Impax Laboratories Inc., Teva Pharmaceutical Industries Ltd. and Watson Pharmaceuticals Inc., Mississauga, Canada-based Biovail said Monday. Biovail reported $302.2 million in Wellbutrin XL sales for the first nine months of 2006, or 42% of the company's product revenue.
February 15, 2007 |
Patients and health insurance providers could save at least $71 billion over 10 years if there was a regulatory mechanism that allowed for the marketing of generic biotech medicines, according to a study being released today. Currently there is no legal pathway that allows generic drug makers to produce biotech medicines, so the high-cost treatments, which are derived from a living source such as proteins, have never had to compete with copycat products that drive pharmaceutical costs lower.
January 19, 2007 |
Bristol-Myers Squibb Co. will ask a U.S. court to stop generic versions of its bestselling drug Plavix, four months after ousting its chief executive for bungling a deal to delay copycat versions of the medicine. Bristol-Myers and Sanofi-Aventis, France's biggest drug maker, will urge a federal judge to uphold the patent on Plavix, a blood thinner, in a trial set to begin Monday in New York. Apotex Inc.
December 28, 2006 |
U.S. regulators cleared six more companies to sell generic copies of Merck & Co.'s cholesterol drug Zocor, signaling steeper price reductions. The approvals posted on the Food and Drug Administration's website Wednesday are in addition to those granted to Israel's Teva Pharmaceutical Industries Ltd. and Ranbaxy Laboratories Ltd. of India in June, when Merck's patents expired.
December 9, 2006 |
A federal appeals court upheld Friday an injunction preventing Apotex Corp. from selling its generic version of Plavix, a blockbuster blood thinner marketed by Bristol-Myers Squibb and Sanofi-Aventis. The U.S. Court of Appeals for the Federal Circuit in Washington upheld the injunction issued in August by the U.S. District Court for the Southern District of New York.
November 23, 2006 |
Teva Pharmaceutical Industries Ltd. said it had won regulatory approval to sell a generic version of an anti-nausea drug used by chemotherapy patients. The Food and Drug Administration approved Teva's application to sell the drug ondansetron, which is a generic version of GlaxoSmithKline's Zofran. The Israeli company said it planned to sell the drug packaged in 4-milligram single-dose vials, in multiple-dose vials and in bags. Shares of Teva were up 31 cents at $32.
November 21, 2006 |
Target Corp. expanded its $4 generic drug program to all of its U.S. pharmacies Monday, moving beyond states where it was matching a plan offered by rival Wal-Mart Stores Inc. Target said all of its 1,287 pharmacies across the United States would offer some generic versions of drugs at $4 for a 30-day supply. The discount retailer had previously matched the list of drugs being sold for $4 at Wal-Mart, but only in states where Wal-Mart was offering the plan.
November 11, 2006 |
What do you call a drug that costs as much as $100,000 a year but doesn't face competition? If you're a consumer footing the bill, you might call it an unfair monopoly. If you're the biotechnology company selling the medication, it's a money machine that needs to be protected at all costs. All this could change soon.
October 20, 2006 |
Wal-Mart Stores Inc. is expanding a program offering $4 prescriptions for some generic drugs to 14 more states, two weeks after rolling out the low-cost program in Florida. The retailer held news conferences throughout the country to announce the move. Wal-Mart is planning to expand the program to all 50 states by year's end.