Abbott Vs Glenmark – damages $16 million against glenmark – Tarka


A federal jury has awarded Abbott Laboratories $16 million in a suit against Glenmark Pharmaceuticals Ltd. over a generic version of Tarka (Trandolapril and Verapamil)

http://www.law360.com/ip/articles/220381

Updates

Glenmark received approval in the month of May 2010 and launched at risk.

….Glenmark had received U.S. Food and Drug Administration approval to market the copy, and notified Sanofi and Abbott that it wouldn’t wait for the results of the trial. Mumbai-based Glenmark began sales in June after U.S. District Judge Dennis Cavanaugh in Newark rejected a request by Sanofi and Abbott to stop sales. As the first to challenge the patent, Glenmark had exclusive rights to the generic market for Tarka for six months.

Glenmark reported in October a 26 percent jump in sales of generics in the U.S., a market that accounts for 68 percent of the company’s generic-drug revenue. The introduction of the Tarka copy helped boost sales, the company said…

ET report

… While Glenmark officials could not be reached for comments, sources said the company will appeal against the verdict...” (this is jury verdict, can it be appealed???)

[Bloomberg] [PTI report] [ET report] [Financial express]

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About Guna

Interested to learn things around me
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