A US court has dismissed AstraZeneca's lawsuit against the Food and Drug Administration (FDA) which sought to delay the marketing approval of genetic copies of a quetiapine drug.
SEROQUEL and SEROQUEL XR tablets, also known as 'quetiapine fumarate', are an antispsychotic drug used in the treatment of schizophrenia, bipolar disorder and depression.
After the FDA denied Astra's petition regarding labelling requirements for generic copies of the drugs earlier in the month, the pharmaceuticals giant decided to seek an injunction barring the FDA from releasing them onto the market.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It was announced this morning that the US District Court for the District of Columbia has denied the firm's request for a preliminary injunction and dismissed the lawsuit without prejudice.
"Notwithstanding the court's decision, the company continues to believe strongly in the merits of its position and is evaluating its options," the company said in a statement.
BC
-
Would you delay retirement to help your children through university?Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoidA couple faces a substantial stamp duty bill after trying to reduce the amount they owed
