Par claims patent win in dispute over pain drug
WOODCLIFF LAKE, N.J. — Generic drug developer Par Pharmaceutical Companies Inc. said Monday a federal court in Delaware ruled in the company’s favor in a patent dispute over the pain drug Ultram ER.
The company wants to sell generic versions of the extended-release drug, which is also known as tramadol. Purdue Pharma LP is the patent holder, while Biovail Corp. and a division of Johnson & Johnson collaborate in selling the drug.
Par said it has tentative approval from the U.S. Food and Drug Administration for the 100mg and 200mg strength versions of tramadol ER.
In a separate statement, Canadian drug developer Biovail said the decision could affect its revenue if Par decides to launch generic versions of Ultram ER. Biovail said it recorded $81.9 million in revenue from Ultram ER in 2008.
Shares of Par rose 71 cents, or 4 percent, to $18 in morning trading. Shares of Biovail fell 49 cents, or 3.5 percent, to $13.40.