Thursday 1 April 2010

Pfizer to Sue Teva Over Generic illegal Viagra

Pfizer has sued generic drug-maker Teva Pharmaceuticals Industries LTD in a federal court to halt a generic version of the company’s erectile-dysfunction drug, Viagra, from being sold domestically until 2019, according to reports.

The pharmaceutical behemoth opposes the U.S. Food and Drug Administration’s approval to allow sale of the generic drug by Teva upon expiration of Pfizer’s primary patent in March of 2012 according to The Wall Street Journal.

Viagra is also protected by a patent covering the drug’s use for erectile dysfunction which doesn’t expire until October of 2019; however, Teva, which notified Pfizer of its intent to sell the generic in 2004, claims the 2019 patent “is invalid and/0r will not be infringed” upon by its generic, the paper said.

Shares of Pfizer fell 11 cents or 0.64% in Wednesday’s trading, closing at $17.15 a share

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