AZ stock leaps on Seroquel hearing news
Color AstraZeneca hopeful. A U.S. court hearing over Seroquel's patents has been bumped forward to today from June 4, boosting speculation that the drugmaker might just come out on top in the high-stakes case. (It hasn't hurt AstraZeneca's stock, either.) Today's hearing is to consider AstraZeneca's request for summary judgment in the case; a decision might not be handed down today, though.
Back in February, AstraZeneca announced it would seek an early decision in its Seroquel patent fight with generics giant Teva Pharmaceutical Industries. At risk: AstraZeneca's $4 billion antipsychotic drug, the company's second-biggest seller, accounting for an expected 28 percent of 2008 earnings. If the judge decides not to grant summary judgment, the Seroquel fight is set to go to trial in August.
- read the article at MarketWatch
- see the Forbes piece
- check out The Guardian's take
Related Articles:
Seroquel researcher got cash from AZ
AZ takes steps to shore up Seroquel
AZ's Seroquel receives additional approval
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