Apotex To Retain About $300 Million From Its At-Risk Launch of Generic Plavix
This article was originally published in The Pink Sheet Daily
A judge sets damages at 50% of Apotex's net sales of generic clopidogrel plus prejudgment interest of $107.9 million.
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Apotex sought $3.4 billion in damages, claiming Bristol-Myers Squibb scuttled their patent settlement agreement by submitting a false certification to the FTC that it had no oral commitment not to sell an authorized generic of Plavix during Apotex’s exclusivity period; Apotex had told the FTC there was such a side deal.
Management highlighted several near-term product launch opportunities during a year-end sales and earnings call in an attempt to assure investors business goes on after Plavix, Avapro patent expirations.