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Teva Commences Sale Of GERD Treatment
(InvesTrend Via Thomson Dialog NewsEdge)
December 24, 2007 (FinancialWire) Teva Pharmaceutical Industries Ltd.
(NASDAQ: TEVA) has commercially launched Pantoprazole Sodium Delayed
Release tablets, 20 mg and 40 mg, which are AB-rated to Wyeth's (NYSE:
WYE) erosive GERD treatment Protonix DR Tablets. The brand product had
annual sales of approximately $2.5 billion in the United States for the
twelve months ended September 30, 2007, based on IMS sales data.
The company is currently involved in patent litigation with Wyeth and
Altana (OTC: AANAF) concerning this product in the U.S. District Court
for the District of New Jersey. A trial date has not been set. In
September 2007, the District Court denied a motion filed by Wyeth and
Altana for a preliminary injunction related to Teva's Pantoprazole
Tablets. Wyeth and Altana have filed a notice of appeal.
Following the denial of the preliminary injunction, and a thorough
review of the court s opinion, Teva accelerated launch preparations for
its product, which had already been granted final approval by the U.S.
Food and Drug Administration on August 2, 2007.
Teva and Wyeth/Altana have commenced settlement discussions regarding
this product and, to facilitate such discussions, have entered into a
standstill agreement pursuant to which Teva agreed not to ship
additional product for a period of 30 days.
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Copyright 2007 M2 Communications Ltd.
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