Glaxo opens court battle to defend Paxil patents against rival
Thursday 06 February 2003
GlaxoSmithKline has begun a vital US court battle to defend more than £1bn in annual sales of its most successful drug, the anti-depressant Paxil.
Lawyers for the pharmaceutical giant yesterday set out their arguments at the start of a trial in Chicago in which GSK alleges a smaller rival has infringed its patents.
Paxil sold in the UK as Seroxat had sales of £1.5bn in the first nine months of 2002, two-thirds of that in the US. An estimated 15 million Americans are treated for depression each year. The drug is also prescribed for panic attacks, anxiety, post-traumatic stress and obsessive compulsive disorder.
GSK is battling Apotex, a Canadian firm with plans to launch a subtly different version of the drug. Apotex says it either does not infringe GSK's patent on the main ingredient in Paxil, or that the patent which runs until December 2006 is not valid.
In trial papers, GSK says it could lose 80 per cent of its US sales of Paxil within weeks of a rival being launched. Investors fear a repeat of the disaster which befell Eli Lilly, the US giant, when its drug Prozac faced competitors in 2001. Prozac lost 70 per cent of its sales in a fortnight because doctors and medical insurers in the US demanded patients use the cheaper version.
The Apotex trial is seen as a guide to further trials elsewhere in the US against a slew of other companies with other versions of Paxil ready for launch. GSK's shares up 14p to 1,148p yesterday have lost a quarter of their value in a year, partly on fears that it could lose patent protection on Paxil. The company already faces a shortfall in earnings from next year because of a lack of new products to launch.
GSK is trying to increase sales of a new controlled-release version of Paxil, which has longer patent protection, before generic rivals become established.
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 4 Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Pornhub star Mia Khalifa receives death threats after being ranked the site's top adult actress
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
iJobs Money & Business
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...