Teva shares plunge; Shire sues over Adderall patent infringement

03/06/06 - newratings.com

NEW YORK, March 6 (newratings.com) – Britain’s Shire PLC Friday filed a lawsuit against Teva Pharmaceuticals Industries Limited (TEVA) for alleged patent infringement of its Adderall drug.

The UK company said its US-based Shire Laboratories Inc unit had filed the lawsuit in the US District Court for the Eastern District of Pennsylvania, after the Israeli drugmaker’s Teva Pharmaceuticals USA Inc filed an application for a generic version of Adderall, in various strengths. Shire alleged that all of Teva Pharmaceuticals’ generic strengths infringe its patents. Adderall is Shire’s Attention Deficit Hyperactivity Disorder (ADHD) drug. Teva Pharmaceuticals’ share price plunged 3.82% to close at $41.82 on the NASDAQ on Friday.