Abbott sues Wockhardt to block generic Depakote

Abbott sues Wockhardt to block generic Depakote
Comment E-mail Print Share
First Published: Wed, May 16 2007. 10 37 AM IST
Updated: Wed, May 16 2007. 10 37 AM IST
By Susan Decker, Bloomberg
Washington: Abbott Laboratories, the US maker of drugs and medical devices, sued India’s Wockhardt Ltd. to block regulatory approval of a generic form of the company’s epilepsy treatment, Depakote ER.
Wockhardt, based in Mumbai, is seeking US Food and Drug Administration approval to sell a low-cost version of the medicine, whose active ingredient is divalproex sodium. Abbott says it would infringe a patent that expires in December 2018.
Depakote sales were $1.23 billion last year for Abbott Park, Illinois-based Abbott. The suit was filed on 11 May in federal court in Trenton, New Jersey. Abbott is seeking an order barring approval of Wockhardt’s application until the patent expires.
The proposed generic “utilizes a controlled-release formulation that infringes” Abbott’s patent, according to the complaint.
Officials Wockhardt’s office in Warwick, New York, didn’t immediately return messages seeking comment. Earlier this month, Abbott sued Teva Pharmaceutical Industries Ltd., the world’s biggest generic-drug company, over its application to sell a copy of Depakote.
Abbott shares rose 73 cents to $58.68 in New York Stock Exchange composite trading. They have risen 20 percent this year, bringing the company’s market value to $90.4 billion. Wockhardt stock fell 2.9 rupees to 413.8 ($10.10) in Mumbai.
The case is Abbott Laboratories v. Wockhardt Ltd., 07cv2235, U.S. District Court for the District of New Jersey.
--With reporting by Shannon Pettypiece in New York. Editor: O’Reilly
To contact the reporter on this story: Susan Decker in at +1-202-624-1941 or sdecker1@bloomberg.net.
To contact the editor responsible for this story: Patrick Oster at +1-212-617-4088 or poster@bloomberg.net.
-0- May/15/2007 20:27 GMT
Comment E-mail Print Share
First Published: Wed, May 16 2007. 10 37 AM IST
More Topics: Corporate News | Sector Spotlight |