GlaxoSmithKline Loses Paxil Case
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GlaxoSmithKline said it lost a key Chicago court case over the U.S. patent on antidepressant Paxil.
But the threat of imminent generic competition receded when Canada’s privately held Apotex made clear it would not rush to market and merely hoped to launch its copycat version by 2005.
Glaxo plans to appeal the ruling that Apotex did not infringe its patent. Analysts said Apotex’s cautious launch suggested it also wanted to await the outcome of a trial on other patents in Philadelphia.
Shares of Glaxo fell $1.12 to $34.15 on the NYSE.
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