Biotech Values

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Analyst sees generic Norvasc launch on Sunday
Thu Mar 22, 2007 2:14pm ET

Pfizer weighs options after losing Norvasc ruling
Analyst sees generic Norvasc launch on Sunday
UPDATE 1-Court rules against Pfizer on Norvasc patent case

NEW YORK, March 22 (Reuters) - A Morgan Stanley analyst said a federal court decision earlier on Thursday will likely enable Mylan Laboratories Inc. (MYL.N: Quote, Profile , Research) to launch a generic form of Pfizer Inc's (PFE.N: Quote, Profile , Research) blockbuster Norvasc blood pressure drug on Sunday, six months earlier than expected.

The court decision involved a Norvasc patent battle between Pfizer and a different generic drugmaker, Apotex Inc. of Canada. But Morgan Stanley said the biggest immediate beneficiary of the ruling will be Mylan because it was the first company to seek U.S. approval for generic Norvasc, and is therefore entitled to launch its copycats before Apotex.

In its decision on Thursday, a federal appeals court reversed a lower court patent decision that had favored Pfizer in its bid to prevent Apotex from launching a generic form of its Norvasc.

"We understand that the decision applies to Mylan, therefore, we would expect Mylan to launch a generic (Norvasc) tablet on March 25th," Morgan Stanley analyst Jami Rubin said in a research report.


Link: http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070322:MTFH62318_2...