Healthcare Industry News: King Pharmaceuticals
News Release - July 18, 2006
King Pharmaceuticals Reports Federal Court Upholds Validity of Altace(R) Patent
BRISTOL, Tenn.--(HSMN NewsFeed)--July 18, 2006--King Pharmaceuticals, Inc. (NYSE: KG ) announced today that the U.S. District Court for the Eastern District of Virginia, Norfolk Division, upheld the validity of U.S. Patent No. 5,061,722 (the "722 patent"), the composition of matter patent covering Altace® (ramipril). Previously, on June 5, 2006 the Court granted summary judgment in favor of King finding that Lupin Ltd.'s proposed generic product infringed King's 722 patent. Also, on June 14, 2006, during the course of trial, the Court found the 722 patent enforceable, dismissing Lupin's unenforceability claims as a matter of law.James W. Elrod, King's General Counsel, stated, "We are pleased with the Court's decision upholding the validity of King's Altace® patent. This decision reinforces the confidence we have continued to express in our intellectual property regarding Altace®."
King, headquartered in Bristol, Tenn., is a vertically integrated branded pharmaceutical company. An S&P 500 Index company, King seeks to capitalize on opportunities in the pharmaceutical industry through the development, including in-licensing arrangements and acquisitions, of novel branded prescription pharmaceutical products in attractive markets and the strategic acquisition of branded products that can benefit from focused promotion and marketing and life-cycle management.
Source: King Pharmaceuticals
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