The struggle between Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) and Abbott Laboratories (NYSE: ABT) is far from over. Last week, at the height of Teva’s struggle with Merck & Co. (NYSE:MRK) over Zocor, the US Court of Appeals for the Federal Circuit ruled in favor of Teva, allowing the company to market generic Biaxin. Abbott then filed an emergency motion in the US District Court for the Northern District of Illinois to enjoin Teva from further sales of the product pending additional appeals.
The US Court of Appeals for the Federal Circuit upheld a decision by the US Food and Drug Administration (FDA) from June 2005 allowing Teva to market generic Biaxin, and vacating a ruling which had granted Abbott's motion for a preliminary injunction to prevent Teva from selling the drug.
Generic Biaxin (Clarithromycin) is an antibiotic for treating respiratory tract infections, such as bronchitis, sinusitis and pneumonia. The drug has $260 million in annual sales.
Teva announced that it would not market generic Biaxin until a hearing on Abbott’s motion scheduled for Thursday.
The US District Court for the Northern District of Illinois is scheduled to hear the patent infringement case regarding Biaxin in a trial scheduled for March 2007. Abbott claims its patent is valid through 2017.
Published by Globes [online], Israel business news - www.globes.co.il - on June 28, 2006
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