Pfizer Loses Lipitor Patent Suits in South Korea, Court Says
By Sangim Han
March 26 (Bloomberg) -- Pfizer Inc. lost patent suits in South Korea relating to the cholesterol pill Lipitor, the world’s bestselling drug, ending an almost two-year legal battle in the Asian country.
The Supreme Court of Korea upheld lower courts’ rulings in favor of six local pharmaceutical companies, saying a patent on Lipitor wasn’t being infringed, said Shin Dong Hoon, director for public relations at the court, in a telephone interview today. The patent is owned by Warner-Lambert Co., the New York- based developer of Lipitor, which Pfizer bought for $115 billion 10 years ago.
“We are very disappointed with the court’s decision as it disregards the value of innovative drugs and discourages the patent protection environment in Korea,” said Dong-Soo Lee, representative director of Pfizer Pharmaceuticals Korea Ltd., in an e-mailed statement today.
The six Korean pharmaceutical companies include CJ Corp., Dong-A Pharmaceutical Co. and Boryung Pharmaceutical Co., according to the court’s Web site. Eight other Korean drugmakers will also benefit from the ruling, Shin said.
To contact the reporters on this story: Sangim Han in Seoul at sihan@bloomberg.net
Last Updated: March 25, 2010 22:08 EDT
Friday, March 26, 2010
Pfizer Loses Lipitor Patent Suits in South Korea, Court Says
via bloomberg.com
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