Barr shares rise after successful patent case
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- March
- 4
Shares of Barr Pharmaceuticals Inc. of Montvale, N.J. today rose 8.32 percent, to $49.47, following word of its successful challenge of the patent on Bayer Schering Pharma AG’s Yasmin oral contraceptive.
Barr, which has manufacturing operations in Pomona, said it was evaluating how the news would affect its 2008 earnings. The successful patent challenge would provide Barr with six months of exclusive sales of a generic substitute for Yasmin. The product had sales last year of $572 million.
Call it irony, but yesterday Watson Pharmaceuticals Inc. of Corona, Calif. announced it was challenging a Barr patent on its branded Seasonique oral contraceptive. Watson was in the news last month when it announced it was closing its operations in Putnam County, including a Carmel manufacturing plant, by the end of 2010.
This entry was posted
on Tuesday, March 4th, 2008 at 5:39 pm by Jerry Gleeson.
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