Biotech Values

[genisi]

Generic-Protonix update:

"Teva Pharmaceutical Industries Ltd.(Nasdaq: TEVA) announced today that the U.S. District Court for the District of New Jersey denied Teva's motion to overturn an April 23, 2010, jury verdict finding the patent in suit not invalid. The Court also denied Wyeth and Nycomed's request for FDA to reset the date of Teva's final approval to January 2011, based on the fact that Teva has patent defenses remaining at the District Court, including patent misuse. Accordingly, Teva is not prohibited from making further sales prior to January 2011, the date when the pediatric exclusivity expires. The Court has not yet issued its underlying reasoning for today's decisions. Teva continues to believe the patent is invalid and unenforceable and intends to pursue all available legal remedies including appeals."

http://maya.tase.co.il/bursa/report.asp?report_cd=557091-00&CompCd=629&Type=Pdf