AstraZeneca wins restraining order on generic asthma drug

LONDON (MarketWatch) — AstraZeneca said it’s won a temporary restraining order by the U.S. District Court for the District of New Jersey halting sales by Teva Pharmaceutical of a generic version of its Pulmicort Respules asthma product. AstraZeneca on Wednesday disclosed that the Food and Drug Administration gave approval to the generic drug. The restraining order freezes supply of Teva’s product to prevent any future sales and requires Teva to send a letter to its customers requesting they comply with the terms of the court’s order. AstraZeneca and partner Par Pharmaceuticals now have to suspend their own distribution of an authorized generic and send a similar letter to customers. The pharmaceutical still sees core earnings between $4.90 and $5.05 a share for the year but said actual performance is dependent on developments in the Pulmicort decision as well as the outcome of a preliminary injuction hearing […]

Original post by Forextvblog

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