AstraZenca recently concluded a three year court battle over their patent on the drug Crestor in the US. Delaware district US judge Joseph Farman ruled that the patent was “valid and enforceable”.
The result of this ruling means AstraZenca will face no threat of competition from cheaper generic versions of the Crestor drug in the US for the next six years.
“We are pleased with the courts decision upholding the validity and enforceability of the patent. The court’s decision reaffirms the strength of the intellectual property protecting Crestor”, said David Brennan, AstraZenca Chief Executive.
As of the market’s close on Thursday investors showed they were still pleased with the ruling. On the last day of the second quarter the drug company added 7.5 per cent in London. JP Morgan Cazenove analysts said they have upgraded the stock to neutral from underweight.