Mylan Wins Its Amlodipine Case With Pfizer
PITTSBURGH, June 05, 2007 /PRNewswire-FirstCall/ -- Mylan Laboratories Inc. today announced that the U.S. Court of Appeals for the Federal Circuit today granted its motion for a reversal of the district court judgment in its patent infringement litigation with Pfizer concerning amlodipine besylate. On February 22, 2007, the district court for the Western District of Pennsylvania had ruled in favor of Pfizer and Mylan immediately appealed and has continued to fully expect a reversal of the decision. Mylan was able to launch its amlodipine products following a March 22, 2007 decision by the U.S. Court of Appeals for the Federal Circuit that claims 1-3 of the amlodipine '303 patent were invalid.
Robert J. Coury, Mylan's Vice Chairman and Chief Executive Officer commented: "We are pleased to have prevailed in our amlodipine besylate litigation and the judicial system ultimately confirmed the position that we were the first to assert and have consistently maintained concerning this product for over four years. We are further pleased that our first to market generic amlodipine products have saved patients, corporations, the government and taxpayers hundreds of millions of dollars in healthcare costs."
Amlodipine Besylate Tablets are the generic version of Pfizer's Norvasc(R) Tablets, which had U.S. sales of approximately $2.7 billion for the 12-month period ending Dec. 31, 2006, according to IMS Health.
Mylan Laboratories Inc. is a leading pharmaceutical company with three principal subsidiaries, Mylan Pharmaceuticals Inc., Mylan Technologies Inc. and UDL Laboratories Inc., and a controlling interest in Matrix Laboratories Limited, India. Mylan develops, licenses, manufactures, markets and distributes an extensive line of generic and proprietary products.
For more information about Mylan, visit www.mylan.com.
This press release includes statements that constitute "forward-looking statements," including with regard to the launch of Amlodipine Besylate Tablets. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward- looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the use of legal, regulatory and legislative strategies by competitors or other third parties to delay or prevent product introductions; risks inherent in legal proceedings; and the other risks detailed in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
CONTACT: Patrick Fitzgerald (Media), or Kris King (Investors), both ofMylan Laboratories Inc., +1-724-514-1800
Web site: http://www.mylan.com/
Ticker Symbol: (NYSE:MYL)
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Posted: June 2007