DEPRENYL STOCK SLIDES ON RULING
Deprenyl saw its stock decline 24% following a ruling by the federal court of Canada that it would not stop the Canadian Health and Welfare department from approving Apotex' version of Deprenyl's anti-Parkinson's disease drug Eldepryl (selegiline).
Although there are no outstanding lawsuits between Deprenyl and Apotex, Martin Barkin, Deprenyl chief executive, said that a patent infringement case will be launched if Apotex starts selling its version of the drug. Apotex, however, argues that Deprenyl's patent only covers the manufacturing process and not the drug.
A spokeswoman for the Health and Welfare department said that there has not been an approval granted for Apotex' version of the drug, although she confirmed that an approval is currently under review.
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