Actavis, Inc. ( ACT ) recently said
that the US District Court for the District of New Jersey has
granted AstraZeneca 's ( AZN ) motion to issue a
temporary restraining order (TRO) preventing Actavis from selling
its generic version of AstraZeneca's Pulmicort Respules.
The TRO comes a few days after the court had ruled that Actavis'
generic version of Pulmicort Respules (0.25, 0.5 and 1 mg) does not
infringe US Patent No. 7,524,834. The court also held that US
Patent No. 6,598,603 was invalid.
The TRO prevents Actavis from distributing its generic version
of Pulmicort Respules (0.25 and 0.5 mg) until Apr 12, 2013 so as to
provide AstraZeneca with the chance to seek injunctive relief in
the Court of Appeals.
The launch of a generic version of Pulmicort Repsules, which is
approved for the controlling and prevention of asthma symptoms in
children aged 12 months to 8 years, would be a major boost for
Actavis. Total branded and generic sales of Pulmicort Repsules in
the US were $1.2 billion during the 12 months ended Jan 31, 2013.
Teva ( TEVA ) currently
markets the generic version of Pulmicort Respules under an
agreement with AstraZeneca. The entry of additional generic
competition in the market would also have an impact on Teva's top
and bottom line.
Actavis intends to provide updated guidance on May 2 when the
company is slated to announce its first quarter 2013 earnings.
Actavis currently holds a Zacks Rank #3 (Hold). While
AstraZeneca and Teva are also Zacks Rank #3 stocks,
Mylan ( MYL ) currently looks
attractive with a Zacks Rank #2 (Buy).ACTAVIS INC (ACT): Free Stock Analysis ReportASTRAZENECA PLC (AZN): Free Stock Analysis
ReportMYLAN INC (MYL): Free Stock Analysis ReportTEVA PHARM ADR (TEVA): Free Stock Analysis
ReportTo read this article on Zacks.com click here.Zacks Investment