Roche Sues Teva Over Anti-Nausea Drug
BRIEF: Roche Sues Teva Over Anti-Nausea Drug [Globes, Tel Aviv, Israel]
From Globes (Tel Aviv) (July 12, 2011)
July 12--Roche Holding AG (ROG: SWX) has filed a lawsuit against Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) and other drug manufacturers Novartis AG (NOVN: SWX), and Sandoz in order to block a generic version of the anti-nausea drug Aloxi.
Teva and the other companies are seeking approval from the US Food and Drug Administration (FDA) for a generic version of Aloxi, but Roche argues the patent does not expire until 2024. Aloxi, an anti-nausea injectable, has been on the market since 2003.
Teva's share price rose 1.49 percent on the TASE this morning to NIS 170. The share price closed at $49.30 on Nasdaq yesterday, giving a market cap of $44.02 billion.
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Posted: July 2011