Healthcare Industry News: COPAXONE
News Release - February 9, 2006
Teva Comments on Pfizer Press Release Regarding AzithromycinJERUSALEM--(HSMN NewsFeed)--Feb. 9, 2006--Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA ) today commented on Pfizer's February 8th press release regarding azithromycin. Although Teva has not yet seen the Citizen Petition or the complaint relating to the infringement actions referenced in the press release, Teva believes that these allegations are baseless and without merit. Furthermore, the Company believes that Pfizer's efforts here are a thinly veiled attempt to discredit Teva and the entire generic drug industry, which have been providing affordable, safe pharmaceutical products to patients for decades.
Teva's azithromycin is a self developed product and is protected by U.S. Patent No. 6,365,574 issued and assigned to Teva on April 2, 2002. Teva's proprietary process for the manufacture of azithromycin monohydrate predates Pfizer's U.S. Patent No. 6,977,243 ("the sesquihydrate patent") regarding the sesquihydrate form of the product. Teva has substantial defenses to Pfizer's enforcement of the sesquihydrate patent.
Teva's azithromycin active pharmaceutical ingredient is manufactured by its own API division. The final product contains azithromycin monohydrate as stated on the label and as approved by the FDA.
Teva Pharmaceutical Industries Ltd., headquartered in Israel, is among the top 20 pharmaceutical companies in the world and is the leading generic pharmaceutical company. The company develops, manufactures and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients, as well as animal health pharmaceutical products. Close to 90% of Teva's sales are in North America and Europe.
Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on management's current beliefs and expectations and involve a number of known and unknown risks and uncertainties that could cause Teva`s future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to Pfizer's claims regarding Teva's Azithromycin product, Teva's ability to rapidly integrate Ivax Corporation's operations and achieve expected synergies, Teva`s ability to successfully develop and commercialize additional pharmaceutical products, the introduction of competitive generic products, the impact of competition from brand-name companies that sell or license their own generic products under generic trade dress and at generic prices (so called "authorized generics") or seek to delay the introduction of generic products, regulatory changes that may prevent Teva from exploiting exclusivity periods, potential liability for sales of generic products prior to a final court decision, including that relating to the generic versions of Allegra®, Neurontin®, Oxycontin® and Zithromax®, the effects of competition on COPAXONE® sales, the impact of pharmaceutical industry regulation and pending legislation that could affect the pharmaceutical industry, the difficulty of predicting U.S. Food and Drug Administration, European Medicines Association and other regulatory authority approvals, the regulatory environment and changes in the health policies and structure of various countries, Teva`s ability to successfully identify, consummate and integrate acquisitions, exposure to product liability claims, dependence on patent and other protections for innovative products, significant operations outside the United States that may be adversely affected by terrorism or major hostilities, fluctuations in currency, exchange and interest rates, operating results and other factors that are discussed in Teva's Annual Report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Source: Teva Pharmaceutical
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.