A US court issued a preliminary injunction to prevent the generic launch of Lilly's medicine.
Pharmaceutical giant Eli Lilly (NYSE: LLY) said that a US court has issued a preliminary injunction to prevent the launch of a generic version of Lilly's medicine Evista by Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) until the court renders its final ruling.
Teva had indicated it was prepared to launch the generic version prior to the resolution of outstanding patent litigation currently being considered by the US District Court for the Southern District of Indiana. Lilly had previously sought and been granted a temporary restraining order to prevent the generic launch.
Selective estrogen receptor modulator Evista (raloxifene) is a medicine used for the treatment and prevention of osteoporosis in postmenopausal women; the reduction in risk of invasive breast cancer in postmenopausal women with osteoporosis; and the reduction in risk of invasive breast cancer in postmenopausal women at high risk for invasive breast cancer.
Shares in Teva closed yesterday at $42.98, giving it a market cap of $38.2 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on April 23, 2009
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