Watson Says Court Affirms ADHD Drug Patent Ruling
From Associated Press (April 26, 2010)
CORONA, Calif. -- Watson Pharmaceuticals Inc. said Monday that an appeals court affirmed that a disputed patent on Johnson & Johnson’s attention deficit drug Concerta is invalid.
In March 2009, the U.S. District Court in Wilmington, Del., ruled that the primary patent on J&J’s drug was invalid and that Watson’s planned generic version doesn’t infringe on the patent.
The pill is the fifth-best-selling prescription drug for Johnson & Johnson, with global sales of $1.33 billion last year.
On Monday, the U.S. Court of Appeals for the Federal Circuit Court affirmed the lower court’s ruling. J&J affirmed the appeals court decision.
Watson said its generic version of Concerta has yet to be approved by the Food and Drug Administration. Attention deficit disorder, sometimes accompanied by hyperactivity, causes symptoms including short attention span and impulsivity.
Shares of Watson rose 13 cents to $43.28 in afternoon trading while shares of Johnson & Johnson, based in New Brunswick, N.J., dipped 17 cents to $64.88.
Posted: April 2010