Novartis Successfully Delays Generic Version Of Leukemia Drug
In the meantime, Gentiva Health Services -- a health and hospice company -- rejects a takeover bid by Kindred Healthcare.
The Wall Street Journal: Novartis Manages To Push Back Competition To Leukemia Drug In The U.S.
Swiss drug maker Novartis has managed to push back generic competition in the U.S. to its blockbuster leukemia drug Gleevec by about seven months, a deal that some critics say will deprive the public of the benefits of lower drug prices. Novartis declined to disclose the terms of the patent litigation settlement agreement it reached with generic drug maker Sun Pharmaceuticals Industries Ltd. But the company said that Sun Pharma's subsidiary won't be allowed to launch its own version of Gleevec in the U.S. until February 2016 -- months after Gleevec's main U.S. patent, known as a basic compound patent, is scheduled to expire on July 4, 2015. The subsidiary of Mumbai-based Sun Pharma has tentative approval from the U.S. Food and Drug Administration for its generic version (Falconi, 5/15).
The Wall Street Journal: Gentiva Health Rejects Kindred's Takeover Bid
Gentiva Health Services Inc. confirmed Thursday that its board has rejected Kindred Healthcare Inc. 's $533 million takeover bid, saying the proposal significantly undervalues the company. Kindred made public the offer for the health and hospice company earlier Thursday, saying it had been rebuffed (Prior, 5/15).