Altana in pantoprazole generic fight
Share's in German pharmaceutical company Altana AG fell 5.14% to 48.50 euros on April 5 as it was announced that an unnamed drugmaker is challenging the firm's patents on Protonix (pantoprazole) with the US Food and Drug Administration, reports Reuters.
Protonix, which the company co-markets in the USA with Wyeth, achieved sales of 2.35 billion euros ($2.84 billion) worldwide and 1.1 billion euros in the USA last year.
Despite investor fears of challenges to the company's flagship drug, Altana is not in any doubt with regards to the patent's validity. "We are confident that our patent on pantoprazole will endure every challenge," a company spokesman said, adding that it was unclear who had made the US application, noted Reuters.
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