Apotex Inc. Ordered To Pony Up $76 Million To AstraZeneca PLC (AZN) In Damages
12/4/2013 6:55:59 AM
A U.S. federal judge has awarded AstraZeneca Plc $76 million in damages from generic drug manufacturer Apotex for infringing upon patents for AstraZeneca's blockbuster heartburn drug, Prilosec, between 2003 and 2007. Following a two-week non-jury trial, U.S. District Judge Denise Cote in New York said Apotex, Canada's largest generic pharmaceutical company, must pay AstraZeneca the equivalent of 50 percent of its profits during the three-and-a-half years it sold a generic version of Prilosec. A different federal judge in New York had already found in 2007 that Apotex's version of the drug infringed AstraZeneca's patent due to a thin, microscopic salt layer that formed during the manufacturing process, leaving the amount of damages as the only issue to be resolved during the trial.
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