Bayer threatens to sue for premature launch of the oral contraceptive, which has annual US sales of $782 million.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has launched Gianvi, its generic version of Bayer AG's (DAX: BAY) Yaz oral contraceptive. Teva has the right to launch generic Yaz in July 2011.
Bayer has announced that it plans to sue Teva for the premature launch
According to IMS sales data, brand Yaz had $782 million in US sales in 2009.
As the first company to file an Abbreviated New Drug Application (ANDA) containing a paragraph IV certification with the US Food and Drug Administration (FDA) for this product, Teva has been awarded a 180-day period of marketing exclusivity period. Teva obtained the rights to Yaz through its 2008 acquisition of Barr Pharmaceuticals Inc., which has a supply and licensing agreement with Bayer for the contraceptive
Teva's share fell 0.3% at the opening on Nasdaq today to $54.66, but rose 0.9% on the TASE today.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2010
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