Drugs giant AstraZeneca has admitted that the formulation patent protecting its Seroquel XR product was deemed invalid by the High Court in the UK.
The patent was challenged by Accord Healthcare, Intas Pharmaceuticals, Hexal AG and Sandoz, Teva UK, and Teva Pharmaceutical Industries.
Astra assured that this decision is limited only to the UK market and is not binding in other countries. The District Court in The Hague, Netherlands, already found the formulation patent to be valid. Decisions from trials in the US and Spain are pending.
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AstraZeneca said it is "disappointed" with the court's decision and added that the company remains committed to defending its intellectual property protecting Seroquel XR.
Shares were down 0.26% to 2,844.00p.
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