AstraZeneca said on Thursday that Canada's Cobalt Pharmaceuticals was seeking U.S. regulatory permission to sell a generic version of its anti-cholesterol pill Crestor.
The news sent shares in the Anglo-Swedish drugmaker 1.9 percent lower to 23.29 pounds in early trade.
Cobalt believes it has found a legal loophole that would allow it to market a cheap copy of the medicine before AstraZeneca's patents expire. Crestor is covered by three key patents valid until 2016, 2020 and 2021.
The news sent shares in the Anglo-Swedish drugmaker 1.9 percent lower to 23.29 pounds in early trade.
Cobalt believes it has found a legal loophole that would allow it to market a cheap copy of the medicine before AstraZeneca's patents expire. Crestor is covered by three key patents valid until 2016, 2020 and 2021.
Crestor's share of total prescriptions in the US statin market was a poor 8.6 percent in
September (their target had been 20 percent).
More at Reuters
No comments:
Post a Comment