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Teva gets FDA, court nods for generic Prevacid: US sales of Prevacid Delayed-Release Capsules are $2.97 billion a year.

Posted on: Wed, 11 Nov 2009 15:45:00 EST

Symbols: TEVA

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Nov 11, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) --
TEVA | Quote | Chart | News | PowerRating -- Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA | Quote | Chart | News | PowerRating) has received two favorable rulings on its generic versions of heartburn and acid reflux drug Prevacid. Takeda Pharmaceuticals Co. Ltd.'s (TSE: 4502) Prevacid is produced as a capsule and as a "solutab" that melts in the mouth.

Teva today announced that the US District Court for the District of Delaware has ruled that its generic version of Prevacid SoluTab dissolvable tablets do not infringe on the US patent of the drug held by Takeda Pharmaceuticals North America Inc. Teva said that IMS sales data showed that brand Prevacid SoluTab sales in the US totaled $500 million in the 12 months through June 2009.

Additionally, the US Food and Drug Administration (FDA) approved Teva's Abbreviated New Drug Application (ANDA) to market its generic version of Tap Pharmaceutical's proton pump inhibitor Prevacid Delayed-Release Capsules in 15 mg and 30 mg doses. Teva will begin shipments today.

Illinios-based Tap Pharmaceutical Inc. is a joint venture of Takeda and Abbott Laboratories Inc. (NYSE: ABT).

According to IMS sales data, US sales of Prevacid Delayed-Release Capsules were $2.97 billion in the 12 months through June 2009.

Teva's share closed at $52.77 on Nasdaq yesterday, giving a market cap of $48 billion. The share rose 0.6 percent in morning trading on the TASE today to NIS 200.30.

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