Boston, MA, 04/09/2014 (usastockreports) – Chief Justice John Roberts of U.S. Supreme Court have asked the generic-drug makers to answer to Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) on the company’s bid. The drug makers have still not responded on the matter of patent fight over Copaxone. It is Teva’s top-selling multiple sclerosis drug. The court has agreed to hear the Teva’s case. The patent case can delay the launch of other generic drugs in the US till until next year. The court has asked the rivals to reply by April 14, 2014 on the matter. After the respond, the court will be able to decide whether the temporary order should be given or not?
The generic version is creating problems
The case of patent fight is going on between Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) and Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA). Momenta have made a generic version by teaming up with the other two firms of industry. These companies can start the marketing of their product if the court does not give the temporary stay order. Teva’s patent will expire on May 24, 2014 and after it Momenta will be free to do the marketing of its generic product. The decision of marketing is still pending amidst the start of the court proceedings.
Copaxone is an asset of Teva as it generates almost half of the profit for the pharmaceutical company. It contributes a large amount i.e. $3.2 billion in annual U.S. sales. If the competitors are given the nod to launch a generic version then, it can result in a great harm to the TEVA and its profitability. It will almost eat up the market share of Copaxone. The severity of damage could be deep and even it will become tough for the company to cope up with the loss. In the case, the generic version comes any of the efforts made by Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) to deal with the change will be futile.