CIPLA WINS ASTHMA
DRUG SUIT
Glaxosmithkline Plc (GSK) lost a patent
case on its biggest-selling asthma drug in the London high
court, paving way for generic versions to take a bite out
of its business in the UK.
India's Cipla, US-based Ivax Corp and
two other generic firms had challenged a key patent on Seretide
- also known as Advair - which expires in 2013 on the grounds
of obviousness. Justice Pumfrey said the claimants' case was
overwhelmingly strong.
A spokesman for Europe's biggest drug-maker said it was considering
an appeal, as shares in the group eased to £10.6 by
1230 GMT after touching a year-low of 10.44.
Seretide/ Advair was GSK's top-selling
product in 2003, with global sales of £2.2 billion ($4.03
billion). Around 6% of those revenues were generated in Britain.
Given the relatively small size of the
British market, the financial impact of the defeat will be
limited, but industry analysts believe it could damage sentiment
and raise fears about patent threats in other markets. Analysts
at JP Morgan calculate that loss of UK patent protection could
slice some 1.2% off the group's 2008 earnings per share.
