• Most Popular
  • Most Shared

Pfizer wins Lipitor patent case in Ireland

NEW YORK
Tue Jul 10, 2007 8:05am EDT
In this file photo a man stands inside the Belgian headquarters of U.S. pharmaceutical giant Pfizer, in Brussels January 23, 2007. Pfizer Inc. said on Tuesday that it had won a patent case over its Lipitor drug in an Irish court, which ruled a patent protecting the blockbuster cholesterol fighter would be infringed by a competing product from India's Ranbaxy Laboratories Ltd. REUTERS/Francois Lenoir

Stocks

   

NEW YORK (Reuters) - Pfizer Inc. (PFE.N) said on Tuesday that it had won a patent case over its Lipitor drug in an Irish court, which ruled a patent protecting the blockbuster cholesterol fighter would be infringed by a competing product from India's Ranbaxy Laboratories Ltd. (RANB.BO)

The decision by the High Court in Dublin prevents Ranbaxy from launching its drug before the basic Lipitor patent expires in November 2011, Pfizer said. The ruling is subject to a possible appeal.

Lipitor is the world's top-selling drug and amounted to more than one-fourth of Pfizer's $48 billion in revenue last year. The company has been defending its intellectual property for the drug around the world against generic drugmaker Ranbaxy.

Pfizer, the world's largest drugmaker, also is trying to protect Lipitor's market share against an influx of inexpensive generic versions of other cholesterol medicines.

Pfizer shares closed at $25.88 on Monday on the New York Stock Exchange.


More from Reuters

Photo

Home prices flat after five months of gains

NEW YORK (Reuters) - U.S. home prices were unchanged in October, according to the widely watched Standard & Poor's/Case-Shiller indexes released on Tuesday, indicating stabilization in the hard-hit housing sector though the figures dashed hopes for a sixth straight monthly increase.

» More Top News
An employee swipes a customer's credit card through the card reader at a restaurant in Tokyo February 19, 2005.REUTERS/Issei Kato

Taking a swipe at credit cards

New legislation meant to protect consumers could be a "game changer" for the industry -- and not in a good way.  Full Article 

Economy
A traveller lifts her arms as she stands in the new security scan at Schiphol airport, Netherlands, May 15, 2007.REUTERS/Jerry Lampen

Are you ok getting "naked"?

Full-body scanners can detect weapons under clothing but also expose passengers to operators. Should security trump privacy?  Full Article 

U.S.