AstraZeneca challenged on US patent
AstraZeneca (AZ) could lose US patent protection on its top-selling cardiovascular drug Toprol XL, after challenges by KV Pharmaceutical, Andrx and Eon Labs, a unit of Novartis.
AstraZeneca (AZ) could lose US patent protection on its top-selling cardiovascular drug Toprol XL, after challenges by KV Pharmaceutical, Andrx and Eon Labs, a unit of Novartis.
Deutsche Bank, AZ's broker, estimates a 40% chance that AZ will lose a ruling on the drug, which would in turn open the door to generic competitors, assuming FDA approval, and hit near-term earnings by around 8-9%.
AZ, Europe's third-biggest prescription drug maker, expects its exclusivity on Toprol XL to hold until September 2007, when the US patents expire. Sales of Toprol XL are expected to total around $1.29bn (£730m) in 2005.