US appeals court has found one of the patents of Teva for Copaxone invalid
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Hyderabad: The stock of Hyderabad-based Natco Pharma soared eight percent on Friday after it said that a US appeals court has found one of the patents of Teva for Copaxone invalid.
This clears the way for the launch of its generic version by Natco, along with its partner Mylan in the US market. They are awaiting the approval from the US Food and Drug Administration.
Copaxone (Glatiramer Acetate) is used in the treatment of relapsing-remitting multiple sclerosis. “Natco Pharma Limited announced on Friday that US Court of Appeals for Federal Circuit again has found Teva’s US patent 808 for Copaxone to be invalid as definite. The company awaits US Food and Drug Administration approval to launch the product," Natco said in a statement.
Last year, the United States Supreme Court had denied Teva’s application for an injunction seeking to prevent launch of a generic version of Copaxone involving Natco Pharma.
The drug makers involved in the generic forms of Copaxone are Novartis AG’s Sandoz and Momenta Pharmaceuticals, Mylan and Natco Pharma.
Mylan chief executive officer Heather Bresch, in a separate statement, said, “We have stated all along that the ‘808 patent on Copaxone is invalid... We continue to remain very confident and look forward to bringing our product to market upon approval from the US Food and Drug Administration.”
Mr Bresch also said the ruling underscores concerns of Teva's ongoing financial prospects as the Copaxone franchise has historically been its largest and most significant revenue driver. According to Teva’s 2014 annual report, Copaxone is responsible for $4.2 billion, or 21 per cent, of the total revenues.
( Source : deccan chronicle )
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