Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has asked the US Supreme Court to review a lower court ruling in July 2013 that invalidated some of the patents for its multiple sclerosis drug Copaxone. The patents expire in May.
Teva expects the Supreme Court to hear the case in April, a month before the Copaxone patents expire. However, the Supreme Court is unlikely to overturn the ruling by the Federal Circuit of Appeals. In November 2013, the Supreme Court rejected Teva's motion to put a lower court ruling on hold while it decides on Teva's appeal.
Although Copaxone's patents expire in May, companies developing generic versions of the drug will not be able to market them before obtaining approval from the US Food and Drug Administration (FDA).
Published by Globes [online], Israel business news - www.globes-online.com - on January 22, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
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