We noted earlier today that AstraZeneca plc (NYSE: AZN) had lost a patent ruling and that the company’s anti-pyschotic drug Seroquel lost its patent protection today. That’s all it took for Teva Pharmaceuticals Industries Ltd. (NASDAQ: TEVA) to kick out its quetiapine generic for Seroquel.
Teva’s price sheet shows the difference a patent makes in the UK. An equal supply of 100-mg coated tablets of Seroquel costs about $180 compared with the generic cost of about $27. In its announcement, Teva notes that it has released 10 new products in 11 weeks, and 7 of those came on the first day of patent expiration.
Teva’s announcement is available here.
The company’s share price is up about 1.5% at $43.72 in a 52-week range of $35.00-$51.30.