Win For Astrazeneca Plc (ADR) (NYSE:AZN) And Temporary Injection For Actavis Plc (NYSE:ACT)
Actavis plc (NYSE:ACT) has been prevented from further distribution of generic versions of Pulmicort Respules by the U.S. Court of Appeals for the Federal Circuit. The temporary injunction is seen in connection with Actavis’ pending consideration of AstraZeneca plc (ADR) (NYSE:AZN)’s request for an injunction pending appeal. A response for the hearing is due by February 20, 2015. As a matter of relief, this injunction doesn’t address product shipped prior to this notice.
Investors didn’t react with much panic as the stock closed at $284 on Wednesday, just 1% below its previous close.
Actavis recently launched the product after the U.S. District Court of New Jersey found that one of the U.S. Patents is invalid and denied AstraZeneca’s request for a permanent injunction. Actavis’ Abbreviated New Drug Application for a generic version of Pulmicort RESPULES® received final approval from the USFDA in August 2012.
Pulmicort RESPULES, Budesonide Inhalation Suspension, is used to prevent and control asthma symptoms. This maintenance medicine scored annual sales of $1.1 billion during the 12 months ended June 30, 2014.
Budesonide is an anti-inflammatory corticosteroid with a potent glucocorticoid activity. Corticosteroids have been shown to have inhibitory activities against multiple cell types as well as mediators like histamine and cytokines involved in allergic- and non-allergic inflammation.
Following a temporary injunction on Actavis plc (NYSE:ACT), Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) is the only company to market generic Pulmicort Respules, thanks to its licensing agreement with AstraZeneca.
Actavis is a specialty pharmaceutical company that develops innovative medicines and markets a broad portfolio of branded and generic pharmaceuticals. The company is an industry leader in product R&D, with one of the broadest “brand” development pipelines in the industry. The company has manufacturing operations in about 30 countries and commercial presence in more than 60 countries.
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