A US court in New Jersey has ruled in favor of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) in a chemotherapy drug patent case.
Teva said that the US District Court for the District of New Jersey granted summary judgment in Teva's favor on the issue of non-infringement with regard to a patent for Sanofi-Aventis chemotherapy medication Eloxatin. Teva said it expects that its 505(b)(2) new drug application will receive final approval shortly.
Eloxatin is generally prescribed with two other drugs to treat colorectal cancer. According to IMS sales data, the drug had US sales of approximately $1.3 billion in 2008.
Shares in Teva closed on Friday at $47.27, giving a market cap of $40.32 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on June 21, 2009
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