Active Stocks
Wed Apr 24 2024 15:59:54
  1. Tata Steel share price
  2. 165.50 2.73%
  1. NTPC share price
  2. 351.25 1.25%
  1. Power Grid Corporation Of India share price
  2. 290.00 1.75%
  1. Infosys share price
  2. 1,431.85 -0.68%
  1. ITC share price
  2. 428.85 -0.08%
Business News/ Industry / Manufacturing/  Drugmaker AstraZeneca settles Crestor patent case
BackBack

Drugmaker AstraZeneca settles Crestor patent case

Firm says that the deal will protect its sales of the anti-cholesterol drug until 2016

A file photo of AstraZeneca headquarters in London. (A file photo of AstraZeneca headquarters in London.)Premium
A file photo of AstraZeneca headquarters in London.
(A file photo of AstraZeneca headquarters in London.)

London: Anglo-Swedish pharmaceutical company AstraZeneca on Monday said it had settled a long-running patent lawsuit over its top-selling drug Crestor.

AstraZeneca said in a statement that the deal would protect its sales of the anti-cholesterol drug until 2016.

“AstraZeneca today announced that it has entered into a settlement agreement in its US patent infringement litigation against Watson Laboratories, Inc., Actavis, Inc. (formerly known as Watson Pharmaceuticals, Inc.), and EGIS Pharmaceuticals," the company said.

Crestor generated $6.25 billion of sales in 2012, down from $6.6 billion in 2011 after losing patent protection in certain regions.

AstraZeneca’s announcement comes after it last week said it was cutting 3,900 jobs—in a major restructuring of the group over the next three years.

The group currently employs about 57,000 staff worldwide.

Dow Jones Newswires contributed to this story.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 25 Mar 2013, 07:16 PM IST
Next Story footLogo
Recommended For You
Manufacturing Stocks
₹611.93.99%
ITC
₹429.2-0.08%
₹2,918.5-0.61%
₹161.12.73%