JERUSALEM--(BUSINESS WIRE)--April 12, 2006--Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA - News) announced today that further to its press release dated March 16, 2006, the U.S. Food and Drug Administration has denied Apotex’s request for an agency determination that 180-day exclusivity for pravastatin 10, 20, and 40 mg has been triggered and run. Teva expects final approval with exclusivity on April 20, when the product patent expires.
Specifically, the FDA concluded that it “interprets the court decision trigger provision to require a decision of a court that on its face evidences a holding on the merits of patent noninfringement, invalidity, or unenforceability. The July 23, 2004 Apotex-Bristol dismissal does not contain such a holding.”
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 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.
Contact: Teva Pharmaceutical Industries Ltd. Dan Suesskind, (011) 972-2-589-2840 or Teva North America George Barrett, 215-591-3030 or Teva Investor Relations Liraz Kalif, (011) 972-3-926-7281 or Kevin Mannix, 215-591-8912
Source: Teva Pharmaceutical Industries Ltd.
