Teva Not Shipping Generic Oxaliplatin Due To Legal Issue
17 Août 2009 - 5:11PM
Dow Jones News
Teva Pharmaceutical Industries Ltd. (TEVA) is not shipping a
generic, injectable version of the Sanofi-Aventis SA (SNY)
colon-cancer drug Eloxatin due to a legal issue, a Teva spokeswoman
confirmed on Monday.
Teva announced only last Tuesday that the U.S. Food and Drug
Administration had authorized the Israeli company to make and
launch injections of the drug, known generically as oxaliplatin.
Hospira Inc. (HSP) announced FDA approval at the same time but
followed up three days later by saying its approval for oxaliplatin
products was suspended due to legal proceedings initiated by Sanofi
against the FDA.
Teva has also been affected, spokeswoman Denise Bradley
confirmed.
"Teva is not shipping further product until the legal issue is
resolved," she said in an email. "We are hopeful to have a decision
in the near future."
The drug at issue is used to treat patients with stage III colon
cancer and advanced colorectal cancer.
Teva shares recently traded down 0.9% to $50.94.
-By Jon Kamp, Dow Jones Newswires; 617-654-6728;
jon.kamp@dowjones.com