Wyeth claims USD960m from Sun Pharma in Protonix case

Wyeth Pharmaceuticals Inc is seeking USD 960 million in damages from Sun Pharmaceutical Industries for alleged patent infringement in launching a generic version of acid reflux drug Protonix in the United States, the Indian company said.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset
moneycontrol.com

Home » News » Business

Feb 16, 2012, 11.35 AM | Source: Reuters

Wyeth claims USD960m from Sun Pharma in Protonix case

Wyeth Pharmaceuticals Inc is seeking USD 960 million in damages from Sun Pharmaceutical Industries for alleged patent infringement in launching a generic version of acid reflux drug Protonix in the United States, the Indian company said.

Like this story, share it with millions of investors on M3

Wyeth claims USD960m from Sun Pharma in Protonix case

Wyeth Pharmaceuticals Inc is seeking USD 960 million in damages from Sun Pharmaceutical Industries for alleged patent infringement in launching a generic version of acid reflux drug Protonix in the United States, the Indian company said.

Post Your Comments

Share Cancel

Wyeth claims USD960m from Sun Pharma in Protonix case
Wyeth Pharmaceuticals Inc is seeking USD 960 million in damages from Sun Pharmaceutical Industries for alleged patent infringement in launching a generic version of acid reflux drug Protonix in the United States, the Indian company said.

The original patent relating to Protonix, known chemically as pantoprazole sodium, is held by Swiss drugmaker Nycomed and was licensed to Wyeth, which is now owned by Pfizer.

Wyeth and Nycomed, owned by Japan's Takeda Pharmaceutical Co, filed the lawsuit in the U.S. District Court in New Jersey against Sun and Teva Pharmaceutical Industries.

Sun launched its generic version of Protonix tablets in January 2008 after Teva Pharmaceutical Industries and its U.S. subsidiary began selling the drug in December 2007.

"Sun Pharma believes that it has sound reasons to disagree with these overstated claims of Wyeth, and also continues to believe that the patent is invalid and unenforceable and will pursue all available legal remedies including appeals," the company said on Thursday.

Nycomed manufactures a major quantity of pantoprazole in a joint venture with India's Cadila Healthcare. Drugs, in which pantoprazole is a key ingredient, have annual global sales of between $7 billion and $8 billion.

Shares of Sun Pharma fell as much as 3.7%  in early trade on Thursday, while the broader market was down 0.2%.

Sun Pharma stock price

On May 26, 2016, Sun Pharmaceutical Industries closed at Rs 780.05, down Rs 6.85, or 0.87 percent. The 52-week high of the share was Rs 1003.65 and the 52-week low was Rs 706.40.


The latest book value of the company is Rs 94.61 per share. At current value, the price-to-book value of the company was 8.24.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Wyeth claims USD960m from Sun Pharma in Protonix case

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login