Teva Wants to Pay $500M Bond to Block Competitors in MS Drug Manufacture
Sunday, April 20, 2014 • 8:58pm
Teva Pharmaceuticals told the U.S. Supreme Court it will pony up a $500 million bond to block competitors from manufacturing and marketing generic multiple sclerosis medications, according to Reuters.
Teva wants the Supreme Court to suspend a July 2013 decision by the U.S. Court of Appeals for the Federal Circuit "that invalidated some of its patents for the top-selling multiple sclerosis drug, Copaxone," according to the report.
The appeals court ruling gave the go-ahead for Novartis' Sandoz Inc. and Momenta Pharmaceuticals, and Mylan Inc. and Natco Pharma Inc. to develop generic MS drugs.