By Angela Chen
The U.S. Court of Appeals has again ruled that Teva
Pharmaceuticals Ltd.'s patent for its blockbuster
multiple-sclerosis treatment Copaxone is invalid.
Shares of Teva fell about 2% in midday trading. A spokesperson
said that Teva is "committed to pursuing all legal pathways
including seeking further appellate review."
In January, the U.S. Supreme Court had reversed an appeals-court
ruling that had invalidated Teva's patent for Copaxone, which
generated more than $3.1 billion in sales in the U.S. last year. It
said that the Federal Circuit must be more deferential in reviewing
certain factual determinations made by trial judges, and sent the
case back to lower courts. The Copaxone patent was set to expire
Sept. 1.
In April, the Food & Drug Administration approved a generic
version of Copaxone that allowed Momenta Pharmaceuticals and the
Sandoz unit of Novartis AG to sell knockoff versions.
Another drug company, Mylan NV, said Thursday that "we remain
very confident in our application for our generic version of
Copaxone and look forward to bringing our product to market upon
approval" by the FDA.
Teva is in the process of trying to take over Mylan, as Mylan
itself has made moves to buy Perrigo Co. Mylan Chief Executive
Heather Bresch said Thursday's ruling "underscores concerns with
Teva's ongoing financial prospects."
A Teva spokesperson wasn't immediately available for
comment.
Write to Angela Chen at angela.chen@dowjones.com
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