BRIEF: Teva loses Seroquel decision: A US federal court upheld AstraZeneca's patent. Teva will appeal.
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[July 02, 2008]

BRIEF: Teva loses Seroquel decision: A US federal court upheld AstraZeneca's patent. Teva will appeal.

(Globes Via Acquire Media NewsEdge) Jul. 2--Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) announced today that the US District Court for the Federal District of New Jersey upheld the patent for Seroquel held by AstraZeneca plc. Teva said that it would appeal against the decision



Teva filed an ANDA with US Food and Drug Administration (FDA) for generic Seroquel in September 2005. The bipolar disorder and schizophrenia treatment was launched in 1998. In 2007, it had $4 billion in global sales, and it is AstraZeneca's second biggest earner, after its reflux treatment, Nexium.

Leader Capital Markets analyst Yoav Burgan says the decision effectively blocks Teva from launching generic Seroquel until March 2012, when its patent expires. He added that the FDA has not yet awarded Teva approval for the 25-mg dosage of the drug, even though its 30-month stay ended in March.



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