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Teva willing to post $500 million bond in Copaxone case
April 17, 2014 / 7:20 PM / 3 years ago

Teva willing to post $500 million bond in Copaxone case

WASHINGTON, April 17 (Reuters) - Teva Pharmaceutical Industries Ltd on Thursday told the U.S. Supreme Court that it is willing to post up to a $500 million bond in return for a decision suspending a lower court ruling that would allow generic competitors to go on the market as soon as next month.

Teva already had asked the court for a stay of the July 2013 ruling by the U.S. Court of Appeals for the Federal Circuit that invalidated some of its patents for the top-selling multiple sclerosis drug, Copaxone. The case was won by two teams developing generic versions of the drug: one involving Novartis AG’s Sandoz Inc and Momenta Pharmaceuticals Inc, and the other involving Mylan In c and Natco Pharma Ltd.

The Supreme Court has yet to respond to Teva’s application. (Reporting by Lawrence Hurley; Editing by Howard Goller)

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