On the eve of the publication of the financial reports for the fourth quarter of 2006 and the year as a whole, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has won an important patent case in the US concerning Lovenox, made by Sanofi-Aventis SA (NYSE:SNY; Euronext:SAN). Lovenox, a blood thinner, had worldwide sales of $2.75 billion in 2005.
On Friday, a US District Court in California cancelled Sanofi-Aventis’s patent to Lovenox, which was originally due to expire in 2012. It is not clear when a generic version of the drug will be launched because Teva has not yet applied to the US Food and Drug Administration (FDA) for a marketing permit.
Teva and Amphastar Pharmaceuticals Inc. challenged Sanofi-Aventis’s patent to Lovenox in 2003, in a filing with the FDA. The legal battle has been waged ever since, as France’s Sanofi-Aventis fought to retain its patent. The present decision reverses a Federal Appeals Court in Washington ruling in favor of Sanofi-Aventis in April 2006.
Analysts believe that Teva and Amphastar will find it difficult to produce generic Lovenox in the near future because of its complex production process. In addition, Sanofi-Aventis, the world’s third largest pharmaceutical company, has not yet capitulated, and will now try to obtain a patent extension for the drug.
Published by Globes [online], Israel business news - www.globes.co.il - on February 11, 2007
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