Pfizer loses court ruling on Norvasc patent
Court Alerts
Pfizer Inc. said Thursday that a federal appeals court has overturned a lower court decision that upheld the patent protecting its widely-prescribed hypertension drug Novasc, a move that opens the door to early generic competition.
In a statement, Pfizer said the U.S. Court of Appeals for the Federal Circuit reversed a lower court ruling in favor of Pfizer, which found the Norvasc patent to be valid and enforceable. The appeal was brought by Apotex, which has been seeking to have the Pfizer patent nullified in order to put out a generic version of the drug.
Pfizer added that it is "reviewing the decision and is considering all its options, including seeking reconsideration."
Other generic drugmakers have also been seeking to put out generic versions of the drug, including Mylan Laboratories (MYL) . Norvasc is slated to lose patent protection later this year.
Prudential analyst Timothy Anderson said in his note Thursday that the appeals ruling could allow for the introduction of generic versions of Norvasc as soon as next week.
"We did not anticipate this ruling, but it will probably only have a muted impact on Pfizer which is already a washed-out, low valuation name," wrote Anderson.
"Earlier generic entry is a negative and could cost the company $1 billion in sales or so in 2007, but given Pfizer's size and cash generation this it not very material to the company's future outlook, in our opinion," Anderson added.
Related listings
-
Court supports FCC in VoIP regulation
Court Alerts 03/22/2007[##_1L|1207331605.jpg|width="120" height="107" alt=""|_##]A federal appeals court upheld a decision by the Federal Communications Commission that barred states from regulating Internet-based phone services, an Associated Press report said. The Associ...
-
US court rules Pringle chips are not satanic
Court Alerts 03/22/2007[##_1L|1058330485.jpg|width="130" height="98" alt=""|_##]Pringles appear to be safe from demonic association after a US court ruled that the devil is not in league with global consumer brand Procter & Gamble (P&G). The ruling brought an end t...
-
Supreme Court blocks Ohio execution
Court Alerts 03/21/2007[##_1L|1346842634.jpg|width="180" height="135" alt=""|_##]The execution of a man who killed a woman and scattered her remains across two states was blocked Tuesday by the U.S. Supreme Court. Inmate Kenneth Biros had waited for the decision hours past...
Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.