Abbott sues Novartis unit; claims patent infringement
Abbott Laboratories sued Novartis AG's Sandoz unit to block sale of a generic copy of Niaspan, a drug used to increase so-called good cholesterol, accusing its Swiss rival of infringing three patents.
Abbott contends Sandoz has applied to the U.S. Food and Drug Administration for approval of the generic and wrongfully intends to market a version of the patent-protected drug, according to a complaint filed June 18 in federal court in Delaware.
Sandoz "had actual and constructive knowledge" of the patents, and "Abbott will suffer substantial and irreparable harm" unless the infringement is stopped, Abbott's lawyers said in court papers.
Abbott said in April that first-quarter sales of Niaspan, a form a Vitamin B, rose 15 percent to $205 million. The Libertyville Township-based company reported revenue of $30.7 billion in 2009.
Officials of Basel, Switzerland-based Novartis weren't immediately available to comment on the lawsuit.
Abbott fell 20 cents to $48.57 in New York Stock Exchange composite trading at 10:54 a.m. The shares dropped 9.7 percent this year before today.
Novartis rose 35 centimes to 54.40 Swiss francs in Zurich trading.
The case is Abbott Laboratories v. Sandoz Inc., 10CV538, U.S. District Court, District of Delaware (Wilmington).
To see the patents, click: 6,080,428; 6,469,035; and 6,818,229.