Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) announced today that the US District Court for the Southern District of New York had issued a favorable set of rulings in its patent infringement lawsuits over its multiple sclerosis treatment Copaxone.
Teva has two lawsuits on the matter, against Sandoz Inc. and Momenta Pharmaceuticals, Inc., and against Mylan Inc. and Natco Inc. Teva said that the US court "adopted all relevant Teva claim construction interpretations and rejected all of the claim construction interpretations put forth by Sandoz/Momenta and Mylan/Natco. In addition, the court denied Mylan’s motion for summary judgment that the patents at issue are invalid for indefiniteness."
Teva explained that, "A claim construction decision involves a US District Court examining evidence from all parties on the appropriate meanings of relevant words used in a patent claim. The court's interpretations of these claims terms impact the assessment of infringement and validity."
Teva added that it was pleased with the decision and awaits the start of the court case on September 7.
Teva's share price rose 0.35% on the TASE today to NIS 142.50. On Nasdaq today the share price rose 2.5% to $40.48, giving a market cap of $36.08 billion.
Published by Globes, Israel business news - www.globes-online.com - on August 29, 2011
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