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Barr Wins Piece of Allegra Patent Case
Barr Pharmaceuticals (BRL Quote) shares rose 1.7% after the company received good news in its patent-dispute battle to make a generic version of Aventis' (AVE Quote) Allegra allergy drug.
The U.S. District Court of New Jersey issued a summary judgment that said Barr didn't infringe three patents related to Aventis' blockbuster treatment. While the move clears away some of the patents involved in lawsuits filed by Aventis and AMT Technology to block Barr's generic version, five patents remain pending in the litigation, with another two asserted by the companies in a case filed three months ago.
In reaction to the news, Barr rose 57 cents to $34.27, while Aventis rose 13 cents, or 0.2%, to $76.20. ...
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