A major generic drugmaker has paid Bristol-Myers Squibb Co. and Sanofi SA more than $442 million to end a decade-long patent infringement case over blockbuster blood thinner Plavix, the world's second-best-selling drug.
Apotex Corp., Canada's biggest drugmaker, has paid the two brand-name drugmakers $442.2 million in damages for selling a generic version of Plavix in 2006.
Apotex launched its copycat version while it was still in a court dispute with Bristol and Sanofi, partners who jointly market Plavix. Apotex argued at the time that key patents on Plavix were invalid, doing what's called an "at-risk launch" of its generic version of Plavix.
A federal judge later ruled the Plavix patent was valid, leading to the damages payment.
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THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
NEW YORK (AP) — A major generic drugmaker has paid Bristol-Myers Squibb Co. and Sanofi SA more than $445 million to end a decade-long patent infringement case over blockbuster blood thinner Plavix, the world's second-best-selling drug.
Apotex Corp., Canada's biggest drugmaker, has paid the two brand-name drugmakers $442.2 million in damages for selling a generic version of Plavix in 2006.
Apotex launched its copycat version while it was still in a court dispute with Bristol and Sanofi, partners who jointly market Plavix. Apotex argued at the time that key patents on Plavix were invalid, doing what's called an "at-risk launch" of its generic version of Plavix.
A federal judge later ruled the Plavix patent was valid, leading to the damages payment.
(This version corrects amount in first paragraph to $442 million. Will be updated.)