Pfizer Wins Right to Block Lipitor Generic
The Record, Bergen County, NJ (December 17, 2005)
Author: Phil Milford And Nicole Ostrow, Bloomberg News
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WILMINGTON, Del. - Pfizer Inc. won a court ruling blocking generic competition for cholesterol-lowering Lipitor, the world's best-selling prescription drug, until 2011, sending the company stock up 12 percent in after-hours trading.
U.S. District Judge Joseph J. Farnan Jr. said a version of the drug by India's Ranbaxy Laboratories Ltd. would infringe Pfizer's patents. The judge also upheld the validity of the two patents. Farnan issued his ruling Friday after hearing a non-jury trial in Wilmington that ended in December 2004 and reading post-trial briefs.Pfizer Wins Right to Block Lipitor Generic
Lipitor, with $10.9 billion in global sales last year, accounted for about 20 percent of the $52.5...
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