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Apr-15-2008AstraZeneca Gets Patent Heartburn Relief(topic overview)
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Nexium is Astrazeneca's second largest selling drug in the U.S. The agreement settles the patent infringement litigation filed by AstraZeneca after Ranbaxy submitted an abbreviated new drug application (ANDA) for esomeprazole magnesium's generic version to the U.S. Food & Drug Administration. [1] AstraZeneca's patents protecting Nexium have expiration dates that vary from 2014 through 2019. Both the companies signed the settlement agreement to resolve the patent infringement litigation filed by AstraZeneca subsequent to Ranbaxy's submission to the United States Food & Drug Administration of an Abbreviated New Drug Application for a generic version of Nexium.[2] Under the terms of the agreement, Ranbaxy will be allowed to start selling a generic version of Nexium, under a license from AstraZeneca, from May 2014. "AstraZeneca today announced it has entered into a settlement agreement in its Nexium patent infringement litigation against Ranbaxy Laboratories Ltd. and its affiliates," AstraZeneca said in a statement on Tuesday.[3] Under the agreement, India-based Ranbaxy Laboratories Ltd. will hold back from selling a generic version of Nexium in the United States until May 27, 2014. The company could have begun selling its generic on April 14, when a 30-month stay brought on by AstraZeneca's patent infringement suit expired. Under the settlement agreement, Ranbaxy concedes that all six patents asserted by AstraZeneca in its suit are valid and enforceable.[4]
LONDON -- Pharmaceutical firm AstraZeneca PLC Tuesday said that it has entered into a settlement agreement with generics maker Ranbaxy Laboratories Ltd. to end a lawsuit over patent infringements for its Nexium heartburn drug.[5] LONDON (Thomson Financial) - AstraZeneca Plc. (nyse: AZN - news - people ) said it has signed a settlement agreement in its Nexium patent infringement litigation against Ranbaxy Laboratories Ltd. and its affiliates.[6] Currently, since the court entered the consent judgment, the settlement agreement is ultimate, thereby dismissing the patent infringement litigation against Ranbaxy. AstraZeneca noted that its Nexium patent infringement litigations against Teva Pharmaceutical Industries Ltd. (TEVA) and Dr. Reddy's Laboratories Ltd. (RDY) remain constant.[2]
AstraZeneca'''s Nexium patent infringement litigations against Teva and Dr Reddy'''s Laboratories remain ongoing. The Ranbaxy settlement has had a dramatic effect on AstraZeneca'''s stock this morning and by 10.15am, the shares had risen over 9.5% to ''21.70.[7]
NEW DELHI (Reuters) - Ranbaxy Laboratories, India's top drugmaker by sales, said a patent litigation settlement with AstraZeneca Plc over ulcer pill Nexium was extremely positive and the drug would add to its revenue from 2009.[8] LONDON, April 15 (Reuters) - AstraZeneca Plc (AZN.L: Quote, Profile, Research ) is not changing its financial forecast for 2008 in the wake of settling U.S. patent litigation against India's Ranbaxy Laboratories Ltd (RANB.BO: Quote, Profile, Research ) over its top-selling drug, ulcer pill Nexium.[9] LONDON (Reuters) - AstraZeneca Plc (AZN.L: Quote, Profile, Research ) has settled a U.S. patent dispute with India's Ranbaxy Laboratories Ltd (RANB.BO: Quote, Profile, Research ) over its top-selling ulcer pill Nexium, securing future sales of the product and boosting its shares 8 percent.[10]
NEW DELHI: Ranbaxy Pharmaceuticals Inc, a wholly-owned subsidiary of Ranbaxy Laboratories Ltd, has announced that it has reached an agreement with pharma major AstraZeneca that would allow Ranbaxy to start exclusive sales of a generic version of ulcer drug Nexium in 2014 in the U.S. Nexium is brand name used by AstraZeneca and is the second largest selling drug in the U.S. Ranbaxy would be able to start sales from May 27, 2014 under license from AstraZeneca.[11] Pharmaceutical major Ranbaxy Laboratories on Tuesday said it has settled a patent litigation with Anglo-Swedish firm AstraZeneca over ulcer drug Nexium, which would allow it to launch its generic version in the U.S. by 2014.[12] Anglo-Swedish drugmaker AstraZeneca gained 5.7 percent after saying it had settled U.S. patent litigation against India's Ranbaxy Laboratories over its top-selling drug, ulcer pill Nexium.[13]
LONDON (SHARECAST) - Shares in pharmaceuticals giant AstraZeneca surged ahead as it secured a favourable settlement in its U.S. patent dispute with India's Ranbaxy Laboratories over its blockbuster heartburn and ulcer pill, Nexium.[14] NEW YORK (Associated Press) - AstraZeneca shares are rising now that the company has settled a patent dispute related to its heartburn drug Nexium, which will keep a generic version off the market until May 2014. India's Ranbaxy Laboratories Ltd. planned to sell a generic version of Nexium, and could have launched the drug this week.[15] In the pharmaceuticals sector there was good news for AstraZeneca, which has settled a patent dispute. Ranbaxy, which makes generic versions of drugs, has conceded that it would violate AstraZeneca's patents if it sold a generic version of its Nexium heartburn drug. Ranbaxy had hoped to begin selling its generic version later this month - potentially taking a large slice of Nexium's market share - but must now wait until 2014.[16]
Investors are reacting positively to the news that AstraZeneca has reached an agreement with Ranbaxy and settled a patent lawsuit in the USA concerning the Anglo-Swedish firm'''s blockbuster antiulcerant Nexium. Under the terms of the settlement, Ranbaxy will be allowed to start selling its generic version of Nexium (esomeprazole) on May 27, 2014, which marks the expiry of two patents on the drug.[7] Ranbaxy said it has agreed to launch a generic version of the drug under license from AstraZeneca not before May 27, 2014. The agreement settles a patent infringement lawsuit AstraZeneca had filed against Ranbaxy after the latter sought approval from the U.S. Food and Drug Administration to manufacture a generic version of the key ingredient in Nexium called exomeprazole magnesium, according to the statement.[17]
AstraZeneca and Ranbaxy have separately agreed that Ranbaxy will make a portion of AstraZeneca's U.S. supply of Nexium from May 2010 and manufacture the active ingredient in Nexium from May 2009. The companies also said that Ranbaxy will distribute authorized generic versions of its high blood pressure medicine Plendil and stomach acid drug Prilosec. Ranbaxy expects to earn revenue of as much as $1.5 billion from when it starts supplying AstraZeneca next year until the end of its six-month exclusive marketing rights in 2014, Singh said today in a telephone interview. "This is the biggest and the most comprehensive settlement to date by any generic company globally,'' he said.[18] AstraZeneca investors were jumping for joy this morning when the drugmaker announced it had played Let's Make a Deal with Indian generics maker Ranbaxy. The copycat company agreed to wait till 2014 to sell its version of the heartburn med Nexium, AstraZeneca's top selling drug with $5.22 billion in revenues. That's a huge coup for AstraZeneca, which has been fighting off the generic challenge since 2005. It's also a good deal for Ranbaxy: the Indian drugmaker gets U.S. distribution rights to two off-patent AstraZeneca meds, Prilosec and Plendil, and will start supplying the active ingredient in Nexium to AstraZeneca beginning in 2009.[19]
Ranbaxy will benefit before that date via an agreement that means it can formulate a portion of AstraZeneca's U.S. supply of Nexium from May 2010, with the active ingredient in the drug, esomeprazole magnesium, being made from May 2009. "This is certainly going to see value for us as a company. It is extremely positive for us," Ranbaxy chief executive Malvinder Singh told Reuters in an interview. "It is a very significant and substantial deal.[8] "We are pleased with the agreement which will provide certainty as to the launch of a generic formulation of Esomeprazole magnesium in the U.S. market," according to Malvinder M. Singh, CEO and Managing Director of Ranbaxy Laboratories Ltd. Manufacturing Agreements AstraZeneca and Ranbaxy have separately entered into an agreement under which Ranbaxy will formulate a significant portion of AstraZeneca's U.S. supply of Nexium from May 2010, including provisions for the manufacture of Esomeprazole magnesium, the Active Pharmaceutical Ingredient (API) from May 2009.[20] India's Ranbaxy Laboratories Ltd. had submitted an application to the U.S. Food and Drug Administration to make a generic version of esomeprazole magnesium, the active pharmaceutical ingredient in heartburn medicine Nexium. Ranbaxy could have begun selling the generic drug in the United States this week.[21]
Separately, Ranbaxy will also be allowed to produce some of Astrazeneca's Nexium supplies for the U.S. market from May 2010. That will include the manufacture of esomeprazole magnesium, the active pharmaceutical ingredient in Nexium, from May 2009. Nexium, which treats stomach ulcers and heartburn, is one of the world's biggest-selling prescription medicines with annual sales of around $5.1 billion, with much of this generated in the U.S. market.[3] Ranbaxy Pharmaceuticals Inc., a subsidiary of Princeton-based Ranbaxy Laboratories Ltd., announced today that it has conceded the patent rights of British pharmaceutical firm AstraZeneca over the active ingredient in the latter's heartburn medicine Nexium, which rung up sales of $5.2 billion last year.[17] Murphy noted that other companies, including Teva Pharmaceutical Industries Ltd. and Dr. Reddy's Laboratories Ltd., are still challenging the patents behind Nexium. Cowen analyst Steve Scala expects $5.05 billion in Nexium sales this year, and estimates that number will decline to $4.25 billion in 2012. He said Ranbaxy should have exclusive rights to sell the generic drug for six months, as two patents supporting the drug expire in November 2014. A second Goldman analyst, James Kelly, said the settlement is good news for Merck & Co., because Merck receives payments on Nexium sales.[15]
Drugs worth between $45 billion and $50 billion are set to fall out of patent in the U.S. alone over the next two years, according to Motilal Oswal, the Indian stockbroker, and generics makers, many based in India and China, are pushing to open the floodgates to cheaper treatments. AstraZeneca said its settlement with Ranbaxy would not effect the other litigation it is involved in - battles that the Anglo Swedish group's chief executive David Brennan yesterday complained are diverting time, energy and money to the courtroom and away from the laboratory.[22] The patent dispute over AstraZeneca's Nexium drug, which treats heartburn and stomach ulcers, had raged over the past two-and-a-half years. AstraZeneca said on Tuesday that it had successfully upheld six of its patents associated with the treatment, but as part of the settlement it has agreed to let Ranbaxy produce a generic version from May 27, 2014.[23] Under a settlement of a U.S. patent dispute over AstraZeneca's top-selling ulcer drug Nexium, Ranbaxy will formulate a portion of AstraZeneca's U.S. supply of Nexium from May 2010, with the active ingredient in the drug, esomeprazole magnesium, being made from May 2009.[24] AstraZeneca and Ranbaxy have separately entered into agreements under which Ranbaxy will formulate a portion of AstraZeneca's U.S. supply of Nexium from May 2010, including provisions for the manufacture of esomeprazole magnesium, the active pharmaceutical ingredient in Nexium, from May 2009.[6] AstraZeneca noted that it and Ranbaxy signed separate agreements that permits Ranbaxy to formulate a portion of AstraZeneca's U.S. supply of Nexium from May2010, which includes provisions for manufacturing esomeprazole magnesium, the active pharmaceutical ingredient in Nexium, from May 2009.[2]
Besides settling the patent litigation, Ranbaxy also entered into manufacturing agreement for AstraZeneca's U.S. supply of Nexium from 2010 and a distribution agreement with the Anglo-Swedish firm for hypertension drug Felodipine and acidity drug remedy Omeprazole.[12] The companies also entered into agreements for Ranbaxy to manufacture part of the U.S. supply of Nexium beginning in 2009, and to distribute generic versions of AstraZeneca's Plendil hypertension drug and Prilosec heartburn medications.[4] Two other plus points: Ranbaxy will supply the active pharmaceutical ingredient for Nexium from May 2009, and AstraZeneca has also named Ranbaxy as the authorized U.S. distributor of generic versions of hypertension treatment Plendil and heartburn drug Prilosec. AstraZeneca was under pressure to settle, with Ranbaxy's 30-month production freeze on its contested generic version set to expire this month.[23]
Japanese share prices staged a modest rebound Tuesday on bargain hunting after the previous day's slide, but gains were capped by worries about upcoming U.S. corporate results, dealers said. In London, AstraZeneca stormed to the top of the FTSE 100 index after the Anglo-Swedish pharmaceutical group agreed to a deal allowing top Indian generic drug firm Ranbaxy to produce its own version of heartburn treatment Nexium from 2014.[25] Shares in AstraZeneca rose sharply after the pharmaceuticals group settled a legal battle against India's largest generic drugs maker over the rights to produce one of the world's most valuable medicines. Under the terms of the out-of-court deal Ranbaxy Laboratories will scrap its plans to manufacture a cheap unauthorised copy of Nexium, the ulcer pill developed by AstraZeneca, in the United States.[22] Ranbaxy also secured the right to distribute authorised generic versions of two other AstraZeneca products -- the heart drug Plendil, or felodipine, and the 40 mg version of ulcer pill Prilosec, or omeprazole. Mr Brennan said the deal gave stability and would allow the company to continue investing substantially in its pipeline of new medicines. "We continue to have confidence in the strength of our patents and will vigorously defend our intellectual property," he said.[22] The company said today that it will give Ranbaxy, the Indian generics manufacturer, exclusive rights to sell a generic version of AstraZeneca's best-selling drug but not until 2014, six months before the main patent on Nexium expires. There had been some concern that Ranbaxy could bring a generic version of the blockbuster to market as early as this year, which would have caused some serious trouble for AstraZeneca.[26] Ranbaxy will start producing a generic version of the blockbuster drug with AstraZeneca's blessing six years from now, when the earliest patents on Nexium expire.[22]
Yesterday's deal settled a three year old patent infringement litigation filed by AstraZeneca following Ranbaxy's submission to the United States Food & Drug Administration for marketing approval of a low cost version of Nexium.[22] AstraZeneca had initially filed litigation against Ranbaxy accussing it of patent infringement after''the company''tried to get approval for a generic version of Nexium.[27] Though the litigation with Ranbaxy has been settled, AstraZeneca will continue Nexium patent infringement litigations against other generic players Teva/IVAX and Dr Reddy's Laboratories.[28]
Shares in Astrazeneca jumped more than 8 per cent in mid-morning trading after the pharmaceutical giant that employs more than 5,000 people in the North West, said it had settled a patent infringement lawsuit over one of its best-selling products, ulcer treatment Nexium. Astrazeneca said today it had reached an agreement with Indian rival Ranbaxy, which gives the other company 180 days of exclusivity on its copy.[29] April 15 (Bloomberg) -- AstraZeneca Plc, the U.K.' s second- largest drugmaker, and Indian rival Ranbaxy Laboratories Ltd. jumped after settling a patent infringement lawsuit over the European company's top-selling ulcer treatment Nexium.[18] A weight was lifted from AstraZeneca's share price on Tuesday, after the Anglo-Swedish pharmaceutical company settled a patent infringement lawsuit against India's Ranbaxy Laboratories.[23]
U.S.-traded shares of AstraZeneca PLC, which is based in London, rose $2.28, or 5.7 percent, to $42.04 in morning trading. Goldman Sachs analyst John Murphy said U.S. sales of Nexium bring in about 10 percent of AstraZeneca's revenue, and represent almost 20 percent of its profit. He believes AstraZeneca's concessions to Ranbaxy, which include allowing the company to manufacture part of the U.S. supply of Nexium, are small.[15] Nexium, the second most lucrative prescription drug in the world, accounted for sales of $5.2 billion (£2.6 billion) last year, trailing only Pfizer's Lipitor, the cholesterol treatment that achieved revenues of about £6 billion, the patents for which have also been contested by Ranbaxy. AstraZeneca will also outsource the production of part of its U.S. supplies of Nexium to Ranbaxy from May 2010.[22]
AstraZeneca puts lawsuit to rest. AstraZeneca ( AZN ) jumped more than 11% in London after it came to terms with India's Ranbaxy to end patent litigation on its ulcer drug Nexium, AZN's number-one seller ($5.22B sales in 2007).[30] Ranbaxy has conceded that all six patents asserted by AstraZeneca in the patent litigation are valid and enforceable, and also acknowledged that four of the patents would be breached by the unlicensed sale of Ranbaxy's proposed generic product.[14]
Ranbaxy can begin selling a copy of Nexium in 2014 and will start making the active ingredient for AstraZeneca next year. The agreement means London-based AstraZeneca faces one fewer generic challenge to its biggest product and Gurgaon, India-based Ranbaxy will be able to sell its copy without competition for 180 days. "It's understandable that we see a little bit of a sigh of relief now that this deal is done, but it doesn't remove all of the threats to Nexium,'' analyst Mike Ward of Nomura Code Securities in London said in a telephone interview.[18] Under the agreement, Ranbaxy would start selling the generic version from May 27, 2014 under license from AstraZeneca and during the 180 day exclusive marketing period, it will distribute the only generic esomeprazole magnesium product in the U.S. market.[12] AstraZeneca and Ranbaxy have also entered into two separate agreements designating Ranbaxy as the U.S. distributor for the authorized generic versions of Felodipine Capsules and Omeprazole 40mg Tablets. Ranbaxy will be compensated for its distribution services on standard commercial terms. In regards to the Distribution Agreements, Singh added, 'It is anticipated that these products will fulfill the needs of the U.S. healthcare system in providing a generic formulation as an option, in addition to the brand.[31]
AstraZeneca and Ranbaxy, which still need approval on the deal from the U.S. Federal Trade Commission, have also entered into two separate agreements, in which Ranbaxy becomes the U.S. distributor for authorized generic versions of Plendil, or felodipine, and 40mg Prilosec, or omeprazole. Ranbaxy will be compensated for its distribution services, said AstraZeneca.[32]
The settlement agreement will allow Ranbaxy to commence exclusive sales of a generic version of Nexium under a license from AstraZeneca on May 27, 2014.[31] The two companies have also entered into two separate agreements designating Ranbaxy as the U.S. distributor for authorised generic versions of Plendil (felodipine) and 40mg Prilosec (omeprazole). Ranbaxy will be compensated for its distribution services. Nexium, which treats stomach ulcers and heartburn, is one of the world's biggest-selling prescription medicines with annual sales of around 2.6 billion pounds, much of this generated in the American market.[6] "The agreement has provided certainty to the launch of our generic version of Nexium in the U.S. market. This is the second out-of-court settlement for Ranbaxy in 2008 and the fifth such settlement in last two years," Malvinder Mohan Singh, CEO and Managing Director, Ranbaxy said.[28] 'We are pleased with the agreement which will provide certainty as to the launch of a generic formulation of Esomeprazole magnesium in the U.S. market,' according to Malvinder M. Singh, CEO and Managing Director of Ranbaxy Laboratories Ltd.[31] "We are pleased with the agreement which will provide certainty as to the launch of a generic formulation of Esomeprazole magnesium in the U.S. market,'' Malvinder M. Singh, Ranbaxy's chief executive, said in a statement.[33]
"We are happy with the agreement which will provide certainty as to the launch of a generic formulation of the second largest selling product in the U.S., Ranbaxy Laboratories CEO and Managing Director Malvinder M Singh told media.[11] A Ranbaxy statement said it also had two other agreements with AstraZeneca for Omeprazole 40mg, an ulcer pill, and heart drug Felodipine ER. "We have also got an authorised generic for Omeprazole 40mg and Felodipine ER, which both put together is a $450 million market," Singh said. Singh also said he was planning to launch an initial public offer for SRL Ranbaxy, which operates a chain of pathology laboratories, by the end of 2008 or some time in 2009.[1]
Ranbaxy conceded that all six patents asserted by AstraZeneca in the patent litigation are valid and enforceable. "The revenues will flow in for Ranbaxy every year from next year due to these agreements," Singh said. Singh declined to comment on the revenues that Ranbaxy would achieve through these agreements. According to industry estimates, these deals would result in a revenue of about 1.5 billion dollars to Ranbaxy over the years.[12] As part of the agreement, Ranbaxy admitted that all six patents stated by AstraZeneca in the patent litigation are valid and enforceable.[2]
AstraZeneca and Ranbaxy have been in patent litigation since 2005 over Ranbaxy's intention to market a generic version of Nexium.[6] The two companies have agreed that Ranbaxy will be allowed to start selling a generic version of Nexium under licence from AstraZeneca from 27 May 2014, the day on which two of AstraZeneca's U.S. patents for Nexium expire.[14] Ranbaxy will begin selling a generic version of Nexium under a license on May 27, 2014, London-based AstraZeneca said today in a Regulatory News Service statement.[33] AstraZeneca said it had reached a settlement with Ranbaxy Laboratories that will allow the Indian firm to start selling a cheap clone version of Nexium on May 27, 2014, the earliest expiry date for patents on the medicine.[34]
The agreement will permit Ranbaxy to commence exclusive sales of a low-cost version of esomeorazole for 180 days from May 27, 2014, the date on which AstraZeneca's key patent on Nexium expires.[28] Under the new agreement, it will not begin sales of a generic version of the drug until May 27, 2014. That is when two of AstraZeneca's six patents on the drug expire.[21] Ranbaxy also has granted the rights to distribute '''authorised''' generic versions of AstraZeneca'''s heart drug Plendil (felodipine), and the 40mg dose of Prilosec (omeprazole). Ranbaxy will be '''compensated for its distribution services on standard commercial terms''', the firms noted. AstraZeneca chief executive David Brennan said: '''I believe that this agreement is the right business decision and gives increased clarity and stability to allow us to continue investing substantially in our growing pipeline'''. He added that '''we continue to have confidence in the strength of our patents and will vigorously defend our intellectual property'''.[7] In two separate agreements, AstraZeneca has designated Ranbaxy as the U.S. distributor for the authorised generic versions of hypertension drug Felodipine and acid-related diseases drug Omeprazole 40 mg.[11] AstraZeneca and Ranbaxy entered into two separate agreements choosing Ranbaxy as the U.S. distributor for authorised generic versions of Plendil and 40mg Prilosec. Ranbaxy will be remunerated for its distribution services on standard commercial terms.[2]
Diggle explained the distribution deal is essentially a profit-sharing agreement that would delay the launch of a generic Nexium before the official expiry of the patent. 'Ranbaxy isn't the heavyweight that Teva is, and are probably quite pleased with cutting a deal with AstraZeneca,' he said.[6] Nexium has a range of patents that expire between 2014 and 2019. AstraZeneca's acceptance of a distribution deal with Ranbaxy allows the company to protect some of its sales after the initial patent expires. Diggle said the overall scenario for Nexium had improved because some commentators had predicted a generic Nexium launch by either Teva, the Israeli generics manufacturer, or Ranbaxy by the of this year, assuming one or two court cases had gone against AstraZeneca. 'I think what we are saying is: AstraZeneca has another year of Nexium sales, beyond what the biggest bears were predicting,' he said.[6]
Commenting on the Nexium deal between AstraZeneca and Ranbaxy, Deutsche Bank in a note said "although two litigants remain (Teva and Dr Reddy's) we think Ranbaxy's willingness to settle sends an important signal about that company's assessment of the likelihood of it winning in the courts as. had (Ranbaxy) believed it had a strong case we would have expected the court case to go the full distance."[32]
The deal, which could bring in revenues worth $1.25 million to $1.5 million for Ranbaxy over a period of six years, allows Ranbaxy to supply raw materials (bulk drugs) for the manufacture of Nexium to AstraZeneca from May 2009 and manufacture a portion of AstraZeneca's U.S. supply of Nexium from May 2010.[28] The two firms have also signed a separate agreement which will see the Indian drugmaker formulate a portion of AstraZeneca's U.S. supply of Nexium from May 2010, with the active ingredient being manufactured from May next year.[7] Under the new agreement, Ranbaxy will formulate a portion of AstraZeneca's U.S. supply of Nexium from May 2010.[21]
The London-based drug maker, with U.S. headquarters in Fairfax, said it will continue Nexium patent infringement suits against Teva/IVAX and Dr. Reddy's Laboratories. 'I believe that this agreement is the right business decision and gives increased clarity and stability to allow us to continue investing substantially in our growing pipeline of new medicines for patients,' AstraZeneca Chief Executive Officer David Brennan said in a statement.[4] Nexium is one of AstraZeneca's three most-important products, along with cholesterol-lowering pill Crestor and anti-psychotic drug Seroquel. "This agreement is the right business decision and gives increased clarity and stability to allow us to continue investing substantially in our growing pipeline of new medicines for patients,'' AstraZeneca Chief Executive Officer David Brennan said in the statement.[33]
LONDON (AP) — Shares in pharmaceutical company AstraZeneca PLC soared Tuesday on news that an agreement with an Indian company will delay the release of a generic competitor to its best selling heartburn drug for six years.[21] AstraZeneca PLC said today that it has reached a settlement agreement in a patent dispute with a generic drug maker over its best-selling heartburn drug Nexium.[4] "The agreement allows us to spend more of our time and money in the laboratory and less in the courtroom,'' Brennan said in a telephone conference with journalists. JP Morgan Cazenove Ltd. analysts raised their rating on AstraZeneca shares to "in-line'' from "underweight'' today, citing the potential effect of the settlement on other challenges to AstraZeneca's Nexium patents.[18]
The shares rose to '21.54p. This is the first of several patent infringement lawsuits Astrazeneca is facing over Nexium and an issue that analysts say has been weighing on the group's share price.[29] The target price has been raised from '19.70 to '23.50. In a research note published this morning, the analysts mention that the company has reached a settlement with Ranbaxy on the Nexium patent infringement litigation.[35] European multinational AstraZeneca today announced an out-of-court settlement with Ranbaxy on a pending patent infringement litigation on its heartburn medicine esomeprazole.[28] With the Court now having entered the Consent Judgment, the settlement agreement is final, and the patent infringement litigation against Ranbaxy has been dismissed.[31]
Ranbaxy and AstraZeneca have filed a Consent Judgment with the U.S. District Court for the District of New Jersey reflecting the terms of the settlement agreement.[28]
LONDON, April 15 (Reuters) - AstraZeneca Plc (AZN.L: Quote, Profile, Research ) wants to strike more outsourcing deals for drug manufacturing and sees an agreement with India's Ranbaxy Laboratories Ltd (RANB.BO: Quote, Profile, Research ) as a valuable part of that process.[24] Ranbaxy Pharmaceuticals Inc. (RPI), a wholly owned subsidiary of Ranbaxy Laboratories Ltd (RLL) has reached several agreements with AstraZeneca. Two of these agreements concern Esomeprazole magnesium capsules.[31] Companies Also Sign Manufacturing and Distribution Agreement GURGAON, India and PRINCETON, N.J., April 15 /PRNewswire/ -- Ranbaxy Pharmaceuticals Inc. (RPI), a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), announced today that it has reached several agreements with AstraZeneca. Two of these agreements concern Esomeprazole magnesium capsules.[20]
The deal also includes provisions for the manufacture of esomeprazole magnesium, from May 2009. "I believe that this agreement is the right business decision and gives increased clarity and stability to allow us to continue investing substantially in our growing pipeline of new medicines for patients, said David Brennan, chief executive officer at AstraZeneca "We continue to have confidence in the strength of our patents and will vigorously defend our intellectual property."[21] AstraZeneca further announced that it signed agreement with Ranbaxy, which allows the latter to manufacture and distribute esomeprazole magnesium.[2]
Ranbaxy will also start supplying raw material for manufacture of Esomeprazole magnesium to Astrazeneca from 2009. "The revenues will flow in for Ranbaxy every year from next year due to these agreements," Singh said.[11]
Nexium is a huge earner for the firm, and brought in $5.2 billion in 2007, but there were fears that a generic form could hit the market in the next few years. In February, Ranbaxy received tentative approval from the U.S. Food and Drug Administration for its generic esomeprazole product.[7] Ranbaxy can begin selling a generic version of Nexium in 2014, and the Company said it will start making active ingredients for the drug next year.[36] "In effect it has put a cork in the bottle stopping the remaining generic challenges to Nexium coming from Teva ( TEVA ) and Dr. Reddy's ( RDY )," analyst James Millet said. The terms: For dropping its lawsuit, Ranbaxy receives rights to be Nexium's exclusive generic distributor for its six months ex-patent in 2014, and begins manufacturing Nexium's active ingredient for AZN in the U.S. in 2009.[30]
Patents on Nexium expire between 2014 and 2019. AstraZeneca faces one less competitor to its biggest-selling drug and that generic challenges from Teva Pharmaceutical Industries and Dr Reddy’s Laboratories, are now much less certain. Although Charles Stanley analyst Jeremy Batstone-Carr believes it is a positive, he is less sanguine than other analysts because of the paucity of AstraZeneca's late-stage pipeline: "AstraZeneca still faces significant generic threat and doesn't have enough in its late-stage pipeline to replace drugs like Nexium, Seroquel and Crestor."[37] Teva Pharmaceutical Industries Ltd. and Indian generic drugmaker Dr. Reddy's Laboratories Ltd. are also challenging the patent and AstraZeneca plans to continue litigation against them, Chief Executive Officer David Brennan said.[18]
Ranbaxy conceded that AstraZeneca's six patents on the product were "valid and enforceable,'' the U.K. drugmaker said. The Indian company also accepted that its proposed generic medicine would infringe four of the patents if it were sold without a license, AstraZeneca said.[33] On that deadline, Ranbaxy conceded that all six patents asserted by AstraZeneca are valid and enforceable, and that four would be infringed by its proposed generic product.[34]
In return, Ranbaxy has acknowledged that all six patents on Nexium asserted by AstraZeneca in the patent litigation are valid and enforceable.[28] "We do not expect any anti-competitive issues, (and) the concessions from Ranbaxy concerning the validity of AstraZeneca's patents and potential infringement make another challenger unlikely in our view." AstraZeneca has still to reach a resolution in the U.S. on patent litigation over its Seroquel schizophrenia drug, which is due to go off patent in September 2011.[34]
LONDON (SHARECAST) - Drug firm Astrazeneca is surging ahead after it settled its U.S. patent dispute with Ranbaxy over stomach ulcer pill Nexium.[38] Pharmaceuticals giant AstraZeneca raced ahead this morning after settling a patent dispute with rival drug company Ranbaxy Laboratories.[27]
Ranbaxy Laboratories, India's top drugmaker by sales, said the settlement with AstraZeneca Plc would reflect in its revenue from 2009.[1] Merck & Co. Inc. (MRK), through KBI Inc. and KBI-E, is also involved in the settlement, AstraZeneca said. AstraZeneca relies heavily on existing products such as Nexium and Seroquel to keep sales growing because it has had trouble bringing new products to the market in recent years.[32] U.S. sales of Nexium and Seroquel, a schizophrenia drug, made up about 21% of AstraZeneca's total sales of $29.56 billion last year.[32] Sales declined 9 percent in the final quarter alone to $1.3 billion and pressure is expected to increase with the arrival in the United States of generic copies of rival heartburn drug Protonix, sold by U.S. drugmaker Wyeth.[21]
AstraZeneca sold $5.2 billion worth of Nexium in 2007, more than 17 percent of the company's total sales.[4] Scala estimated that Merck earns 50 cents per share from Nexium sales each year, while AstraZeneca gets 95 cents to $1 per share.[15]
Ranbaxy also gets U.S. distribution rights on two AstraZeneca off-patent drugs, Prilosec and Plendil. BlockCity? CircuitBuster? Shares of Blockbuster ( BBI ) fell 10.2% yesterday after it revealed its unsolicited $1-1.35B offer for Circuit City ( CC ).[30] Ranbaxy received a tentative approval from the U.S. Food and Drug Administration in February. German broker Dresdner Kleinwort reacted to the news by upgrading its recommendation for AstraZeneca's stock to 'buy' from 'hold' and raised its price target to 2,350 pence from 2,147.[25] Ranbaxy had on February 7, 2008 said that it received tentative approval from the U.S. Food and Drug Administration (USFDA) for marketing esomeprazole magnesium delayed-release capsules, 20 mg (base) and 40 mg (base).[28] During the 180 period following that date, Ranbaxy will distribute the only generic esomeprazole magnesium product in the U.S. market.[11]
The drugmaker began 2008 with the the gloomy prospect of losing Nexium and Seroquel to generic competition in the U.S. from Ranbaxy and Teva Pharmaceutical Industries (TEVA) respectively.[32] AstraZeneca still faces patent challenges on Nexium from Teva Pharmaceutical Industries and India's Dr Reddy's, but analysts said that Ranbaxy's willingness to settle may signal the strength of AstraZeneca's case.[19] AstraZeneca is still pursuing legal action against Israel's Teva Pharmaceutical Industries Ltd. and Dr. Reddy's Laboratories over Nexium patent infringements.[21]
AstraZeneca said the pact settles a patent infringement suit it had filed against the Indian company, which had submitted an application to the U.S.[5]
The Indian generics-maker received tentative approval from the U.S. Food and Drug Administration in February for generic Nexium, which could have guaranteed it 180 days of marketing exclusivity in the United States upon patent expiry. Generics companies will often challenge patents early to obtain this coveted marketing exclusivity.[6] Under the deal, Ranbaxy would be allowed to start selling a cheap version of Nexium on May 27, 2014, after the expiry of the earliest patents on the drug.[1] The two companies said on Tuesday that under the deal Ranbaxy would be allowed to start selling a cheap, copycat version of Nexium on May 27, 2014, which marks the expiry of the earliest patents on the medicine.[8]
Ranbaxy and AstraZeneca have been embroiled in legal action since 2005 over Ranbaxy's intention to market a generic version of Nexium. [3] The firms have also entered into agreements designating Ranbaxy as the U.S. distributor for authorised generic versions of Plendil (felodipine) and 40mg Prilosec (omeprazole).[28] Under the new agreement, Ranbaxy can begin selling a generic copy of Nexium in 2014 and it gets 180 days marketing exclusivity.[37] The firm was the ''top-riser in the FTSE 100 at 10:41am, up''9% to 21.55 having gained 174p after the company announced it had entered into an agreement with Ranbaxy, settling a row over the drug Nexium, designed to help patients with heartburn.[27] In a statement, Ranbaxy said it "concedes that all six patents asserted by AstraZenca in the patent litigation are valid and enforceable". Ranbaxy Chief Executive Malvinder Singh said the company is pleased with the agreement, which he said provides certainty.[32] The companies did not release terms of the agreement. Malvinder Singh, Ranbaxy's CEO, told Dow Jones Newswires he expects the total deal to generate $1.25 billion to $1.5 billion in revenue for Ranbaxy between now and 2014.[4]
AstraZeneca said the deal would give it greater control over the transition its original drugs make into the generics markets and was in line with its strategy to outsource the manufacture of active pharmaceutical ingredients entirely by 2018. Investors in both companies cheered a deal that analysts said sharply reduced the uncertainty surrounding a large chunk of AstraZeneca's revenues.[22] AstraZeneca said financial guidance for 2008 would remain unchanged, but the company's shares shot up almost 9 percent as analysts sensed less of a profit risk for the London-based drug maker.[21] Dresdner Kleinwort raised the stock to "buy" from "hold". The Anglo-Swedish drugmaker's shares staged their biggest gain in six years, adding as much as 11 percent before settling 8 percent higher at 21.38 pounds by 1320 GMT (9:20 a.m. EDT), though AstraZeneca said the settlement would not of itself lead to any changes in the 2008 earnings outlook.[10] AstraZeneca rose 7.1 percent, the most since January 2003, in London trading and Ranbaxy, India's biggest drugmaker, gained 8.6 percent on the Bombay Stock Exchange, the most since July.[18] AstraZeneca rose as much as 176 pence, or 8.9 percent, to 2,157 pence, and traded at 2,132 pence as of 8:07 a.m. in London trading. Ranbaxy gained 34 rupees, or 7.7 percent, to 477.5 rupees on the Bombay Stock Exchange, after rising 7.9 percent, its highest increase in almost nine months.[33]
UBS Investment Research analyst Gbola Amusa Tuesday increased AstraZeneca's target price to 2150 pence following Tuesday's Nexium news, saying that the market was likely to stop over-discounting the drugmaker's stock now that near- term patent risks had been removed. [32] Despite the expiration of the 30-month period that protected Seroquel from generics on March 26, AstraZeneca has built what analysts say looks like a strong legal case, securing a trial on Aug. 11 and seeking at the same time a summary judgment against Teva. Earlier this month, shares in AstraZeneca had rebounded amid news the drugmaker's anti-cholesterol pill Crestor is likely to be prescribed to more patients.[32] Shares in AstraZeneca (nyse: AZN - news - people ) jumped 8.0%, or 159 pence, to 21.40 ($42.03), on Tuesday afternoon in London.[23]
Prior to that surge, AstraZeneca's share price had slumped close to December 2004 levels, when the company was left reeling by the rejection of antithrombotic Exanta by U.S. regulators and the failure of lung-cancer drug Iressa.[32] Credit Suisse's Steve Plag called the deal "unremittingly good news." In a mention characteristic of the troubles facing the industry these days, Plag added that AstraZeneca still faces patent challenges to its antipsychotic Seroquel, the company's second-best-selling drug.[26] The patent risk has substantially reduced, since the sales of AstraZeneca's Nexium drug are now protected until 2014, Dresdner Kleinwort adds.[35] Sold under the brand name Nexium, esomeprazole is the second largest selling drug in USA with total annual market sales of $5.5 billion.[28] Sales of Nexium were around $5.2 billion last year, down 2 percent on the previous year.[21] Nexium is the second-biggest prescription medicine globally, with sales of $5.2 billion in 2007.[8]
Nexium, which treats stomach ulcers and heartburn, generated annual revenue in excess of $5 billion for AstraZeneca.[2] "Nexium revenues are now secure until 2014, and Seroquel court proceedings appear to be advancing to AstraZeneca's advantage, we see no reason why AstraZeneca cannot look at additional debt financed strategic acquisitions," analyst Paul Mann wrote.[34]
In another pact signed by the two companies, Ranbaxy will formulate a significant portion of AstraZenecas U.S. supply of Nexium from May 2010.[11] In return, it will be allowed to formulate a portion of AstraZeneca's U.S. supply of Nexium from May 2010.[34]
Morgan Stanley analysts said U.S. Nexium sales were worth around 2 pounds per share and accounted for approximately 15 percent of near-term earnings forecasts. [10] Dresdner Kleinwort moved AstraZeneca shares to "buy" from "hold" in reaction. It had valued a Nexium patent loss at about 6 per AstraZeneca share.[34]
AstraZeneca's Chief Executive David Brennan said that the settlement gives increased clarity and stability to allow the company to continue investing substantially in a pipeline of new medicines. "We continue to have confidence in the strength of our patents and will vigorously defend our intellectual property," he said.[32] Dresdner Kleinwort analysts upgraded the company to buy from hold, saying the settlement "significantly de-risks the business." They added that another challenger to the validity of AstraZeneca's patents is unlikely.[21]
According to Ranbaxy, all of the six patents that were asserted by AstraZeneca are valid and enforceable, the analysts say.[35]
A Ranbaxy statement said it also had two other agreements with AstraZeneca for Omeprazole 40mg, an ulcer pill, and heart drug Felodipine ER. Continued.[8] "Investors are reacting positively to the news that AstraZeneca has reached an agreement with Ranbaxy."[7]
After conceding that AstraZeneca's patents were valid and enforceable, the two companies came to an agreement and the litigation was''terminated.[27] AstraZeneca said that it would file all the agreements with the United States Federal Trade Commission and the United States Department of Justice, complying the Medicare Modernization Act of 2003.[2]
Brennan wouldn't disclose the terms of the contracts. AstraZeneca expects to stop producing the active ingredients in all its products and outsource the work to other companies within five to 10 years, the chief executive said. The drugmaker has also established a site in China for outsourcing, he said.[18] The Indian group will manufacture supplies of the active ingredient in the drug, esomeprazole magnesium, from May 2009.[22]
In the U.S. a patent confers protection for 20 years, a significant portion of which may be spent in clinical trials, and when it expires revenues tumble. Generic drugs typically sell at a 97 per cent discount to their patented templates. Countries with ageing populations, such as Japan, where generics presently account for just 5 per cent of the market, are regarded as likely to encourage the cheap copies to reduce healthcare costs. [22] Prior to today's announcement the stock was down more than 30 per cent in the past 12 months despite Astrazeneca having 10 drugs ' double what it had ' in phase three trials and recently announcing an 8 per cent increase in operating profit excluding restructuring and synergy costs. Astrazeneca is currently seeking to lay off more than 7,000 people worldwide, including 400 from its research operations in Alderley Park, near Wilmslow. The cuts are part of a global plan by the company to lower its costs and improve efficiency.[29]
Ranbaxy, which has been granted the right to produce a copy of Nexium on an exclusive basis from 2014 to 2019, gained 8.6 per cent on the Bombay Stock Exchange.[22] Ranbaxy stock prices at BSE rose 8.62 per cent or Rs 38.25 to close at Rs 481.8 today.[28]
Ranbaxy accepted that selling Ranbaxy's proposed generic product without license would violate four of the patents. [2] Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.[20] Ranbaxy Pharmaceuticals Inc. (RPI) based in Jacksonville, Florida, is a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), India's largest pharmaceutical company.[20]
Analysts were also pleased. Citi's Kevin Wilson called the deal "better than expected," noting that he'd expected a settlement that would have allowed Ranbaxy to bring a generic to market in 2012. [26] Analysts said that while the settlement provides no immediate earnings upside, it removes the evry significant threat that Ranbaxy would launch seven years early.[34]
Would FTC be investigating this settlement similar to Cephalon settlement with Ranbaxy? Ranbaxy, AstraZeneca came out winners and the customer probably would get short end of the bargain.[26] Merck & Co., Inc., through KBI Inc. and KBI-E and under the terms of Merck's restructured partnership with AstraZeneca announced in 1998, has also entered into the settlement agreement.[31] Dresdner Kleinwort analyst Tim Franklin upgraded AstraZeneca to "Buy," from "Hold," arguing that the settlement of the lawsuit added a 10% upside to the stock.[23]
LONDON, April 15 (newratings.com) - Analysts at Dresdner Kleinwort upgrade AstraZeneca Plc (AZN-GBX) from "hold" to "buy," while raising their estimates for the company.[35] AstraZeneca rose 141 pence to close at 2,122 pence in London, giving the company a market value of 31 billion pounds ($61 billion).[18] Ranbaxy gained 38.25 rupees to close at 481.8 rupees. That gives the company a market value of 180 billion rupees ($4.5 billion).[18]
Circuit City shares gained 27.5% to $4.97, more than $1 below Blockbuster's minimum offer of $6. Circuit City rebuffed the offer in a letter to Blockbuster, questioning its ability to foot the bill. Carl Icahn, a major owner of Blockbuster shares, and who has seen his investment in the company lose some 80%, was vocally supportive of the deal, and insured there were sufficient funds to make it happen. "If this were to be confirmed, it would be the biggest discovery ever made in the world," Haroldo Lima, the head of Brazil's National Petroleum Agency, said. It categorizes credit damage as "unlikely," but says GSEs present a far greater risk to U.S. stability than do broker-dealers.[30] While a bit of legal saber-rattling to that effect continues from Teva and Dr. Reddy's, the market clearly thinks the deal with Ranbaxy is a very good sign shares were up more than 10% at one point today in U.K. trading, Bloomberg reports.[26]
Shares of AstraZeneca were up as much as 11%, while shares of Ranbaxy rose as much as 13%--the most in nine years.[36] AstraZeneca shares jumped almost 9% on the news, gaining 172p to ''21.53. This helped the FTSE to post a 48.6 point gain by 9am, at 5880.2 points. Carphone Warehouse led the losers after it published its third-quarter financial results. The company's shares plunged 8.3% to 244.25p, a 22.25p fall, after it said it was slowing its rollout of new stores because of the uncertain economic climate.[16] Following the news, broker Cazenove upgraded AstraZeneca to 'in-line' from 'under-perform', stating signficant downside risk to the shares had been''removed.[27]
AstraZeneca raised it outlook for 2008 in January, forecasting core earnings per share between $4.40 and $4.70 (2.77 euros and 2.96 euros), compared with 2.76 euros in 2007.[21]
AstraZeneca just got some breathing room for its blockbuster heartburn drug Nexium. [26] Acquisitions could be on the cards after Britain's No. 2 drugmaker settles a key patent dispute over its top-selling drug, the ulcer treatment Nexium.[34] Then again, the victory is not all one-sided. Ranbaxy will be allowed to produce its own treatment from 2014, which is the earliest point at which the Nexium patents would have expired.[23] AstraZeneca'''s patents protecting Nexium have expiration dates that range from 2014 through 2019.[7] According to Deutsche Bank, an early appearance of generic Nexium could have taken 13% and 19% off AstraZeneca's 2008 and 2009 EPS respectively.[34] Nexium sales fell 9 per cent in the final quarter of 2007 and the company said it expected lower future sales due to pressure from generic competition.[37] RPI is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.[20]
The U.S. patent for the medicine has been challenged by Teva/IVAX, another large Indian generics group.[22] The Indian firm conceded that all six patents asserted by Astra in the patent litigation are valid and enforceable.[38]
Ranbaxy gained 8.6 percent in Mumbai and CEO Malvinder Singh hailed the deal as "extremely positive" for the Indian group.[10] At 0912 GMT, Ranbaxy shares were up 10.4 percent at 489.50 rupees in a Mumbai market up 2 percent. They rose to a high of 499.80 rupees, their highest since May 2006.[8]
"A settlement with Ranbaxy on Nexium significantly de-risks the business, it told clients.[34] "Given diminished probability of at-risk Seroquel generics due to the delay of a key hearing and given today's Nexium settlement, key issues underlying our sell rating are mitigated," said Amusa.[32]
"In effect it has put a `cork in the bottle' stopping the remaining generic challenges to Nexium coming from Teva and Dr. Reddy's,'' analyst James Millett and colleagues wrote in a note to clients.[18] "Although two litigants remain (Teva and Dr Reddy's) we think Ranbaxy's willingness to settle sends an important signal about that company's assessment of the likelihood of it winning in the courts," Brian Bourdot, a Deutsche Bank analyst, told clients.[34]
AstraZeneca's next patent hurdle to overcome will be the lawsuit against Teva over schizophrenia drug Seroquel. [23] AstraZeneca's lucrative Seroquel drug has also been the subject of generic threat.[32] AstraZeneca, like much of the global pharmaceutical sector, is struggling with fierce competition from generic drugmakers that are based in low-cost economies such as India.[3]
''So, 2014 will be a very significant opportunity for us, plus at the same point in time, we would also start supplying APIs to AstraZeneca for Nexium starting next year followed by supplying dosage forms to AstraZeneca in 2010,'' CNBC quoted Mohan Singh as saying in an interview.[1] With sales of 2.6bn last year, Nexium is the world's second-biggest prescription medicine globally behind Pfizer's Lipitor cholesterol pill.[34] Nexium had global sales of $5.2bn in 2007, making it the second most popularly prescribed medicine in the world.[14]
The most important case involves Seroquel, the schizophrenia drug that was worth $4 billion in sales last year.[22] The drug brings in annual sales of around 2.6 billion ($5.1 billion), with American sales accounting for much of the total.[23]
Ranbaxy received a tentative approval from the U.S. Food and Drug Administration in February. [3] Ranbaxy's continued focus on R&D; has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research.[20] The relatively short life of patents is one of the greatest banes of companies that invent new drugs.[22]
LONDON (AFP) — Europe's main stock markets mostly weakened Tuesday on nervousness ahead of more U.S. earnings news, but London was boosted by positive announcements from retail and pharmaceutical giants, traders said.[25] Warning: Do remember, particularly if you are new to stock market investment that the prices of shares and other investments can fall sharply.[37]
Curbing gains on the market late in the day was a drop in shares of U.S. financial services firm State Street after the company's CFO said it faced "two unrealised losses." This hit Wall Street and kept alive concerns in Europe about the fallout from the credit crunch.[13]
Chief Executive David Brennan said on Tuesday the company aimed to stop producing active pharmaceutical ingredients (APIs) in-house altogether in the long term. "This move is absolutely consistent with our supply chain strategy," he told reporters in a conference call.[24] FiercePharma is the pharma industry's daily monitor, with a special focus on pharmaceutical company news and the market development of FDA approved products.[19] The Company's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies," resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 11 countries.[20]
Ranbaxy will then have 180 days of exclusivity as the only distributor of a generic version. [34] A 30-month stay period blocking regulatory approval of generic versions expired last night.[34]
The deal is a relief to shareholders, who had feared revenues from the $5-billion-a-year blockbuster could fall off a cliff in the face of generics. [10] 'However, it will be an ongoing issue and the next point is whether Astra decides to do a deal with Teva (the biggest generics market participant).[6]
Elsewhere on Tuesday, Britain's biggest retailer Tesco jumped by 5.69 percent to 413.25 pence after posting well-received annual earnings. The supermarket giant said net profit had jumped by 12 percent to 2.1 billion pounds (2.6 billion euros, 4.2 billion dollars) in 2007-2008, as it also announced a solid start to its new U.S. business and plans to create 30,000 jobs worldwide. [25] Revenues were up 4% to $2.58B, vs. a $2.4B consensus. "Given the continued unsettled economic environment, for now we continue to expect to achieve in the middle of the ranges we established for this year," the company said, reflecting an increase in operating EPS of 10-15%; a revenue increase of 14-17%; and operating return on equity of 14-17%.[30]
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1. domain-b.com : Ranbaxy settles litigation with AstraZeneca; to sell Nexium in US
2. RTTNews - Breaking News, financial breaking News, Positive EPS Surprises, Stock research .
3. The Local - AstraZeneca settles with Indian drugmaker
4. AstraZeneca settles Nexium patent dispute | delawareonline | The News Journal
5. Free Preview - WSJ.com
6. AstraZeneca says Ranbaxy can sell generic Nexium under licence from 2014 UPDATE - Forbes.com
7. PharmaTimes | Industry News | World News | AstraZeneca soars as Nexium patent row with Ranbaxy is settled
8. Ranbaxy CEO says Nexium deal extremely positive | Business News | Reuters
9. Astra says Nexium deal doesn't change 2008 outlook | Industries | Healthcare | Reuters
10. AstraZeneca, Ranbaxy settle Nexium patent dispute | Markets | Markets News | Reuters
11. Ranbaxy to sell ulcer drug Nexium in US- Pharmaceuticals-Healthcare / Biotech-News By Industry-News-The Economic Times
12. Ranbaxy, AstraZeneca settle Nexium suit
13. Financials Drag Down Euro Stocks - Market Overview * Europe * News * Story - MSNBC.com
14. ShareCast - News you can use
15. Out of the Gate: AstraZeneca Rises
16. Huge oil find sends FTSE higher | Market Forces | Guardian Unlimited
17. Ranbaxy Concedes AstraZeneca's Patent Rights
18. Bloomberg.com: U.K. & Ireland
19. AstraZeneca, Ranbaxy settle Nexium fight - FiercePharma - Pharmaceutical News, Pharma News, Pharma Industry, Pharmaceutical Industry News
20. Ranbaxy and AstraZeneca Reach Agreement in Esomeprazole Patent Litigation
21. The Associated Press: AstraZeneca Settles Ranbaxy Lawsuit
22. AstraZeneca shares soar as patent case settled - Times Online
23. AstraZeneca Gets Patent Heartburn Relief - Forbes.com
24. AstraZeneca CEO says wants more outsourcing deals | Industries | Healthcare | Reuters
25. AFP: European stocks mostly fall, London manages gain
26. Health Blog : AstraZeneca Blunts Generic Nexium Threat
27. AstraZeneca flies ahead after settling Nexium dispute | New Model Adviser '' | Citywire
28. AstraZeneca settles patent deal with Ranbaxy
29. Lawsuit boost for Astrazeneca - Crain's Manchester Business
30. Wall Street Breakfast: Must-Know News - Seeking Alpha
31. Indiainfoline.com-Top stories,Leader speak,company news,sector news,Market talk,lifestyle,budget,market today,global indicators
32. 3rd UPDATE: AstraZeneca, Ranbaxy Settle Drug Patent Case
33. Bloomberg.com: India & Pakistan
34. Patent victory sends AstraZeneca soaring | Comment Archive | News | Hemscott
35. AstraZeneca upgraded to "buy" - newratings.com
36. News Briefs - Comtex SmarTrend Alert
37. AstraZeneca sees off Nexium generic threat - Investors Chronicle
38. ShareCast - News you can use
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