lost a round in its patent dispute with
over a hypertension treatment.
The U.S. District Court of New Jersey validated Pfizer unit Warner-Lambert's patent on Accupril, which racked up $589 million in sales last year.
Teva, an Israeli maker of generic drugs, said it planned to appeal the decision and reaffirmed earnings guidance from May 4, when it said 2004 sales would come in near $4.5 billion, and earnings per share, excluding charges, would be $2.70 to $2.74. Currently, Wall Street expects the company to earn $2.72 a share on sales of $4.6 billion.
The Food & Drug Administration has already granted approval for Teva to make a generic version of Accupril called Quinapril.
As the first drugmaker to win approval to make a generic version, Teva will have a 180-day exclusivity period to market the drug, which will begin on the first commercial launch or when a final court ruling is issued, whichever comes first.