Everyone knows that the market for diabetes medication is not going away. Watson has recently announced that it has launched an authorized generic version of Fortamet (metformin hydrochloride extended-release tablet) as part of the company’s agreement with Shionogi. Based in IMS health data, the sales of Fortamet and its generics reached approximately $82M.
On the same day, the company has also confirmed that Depomed and Valeant have filed a patent infringment lawsuit against Watson in regard to the company’s abbreviated new drug application submitted to the FDA seeking approval to market Glumetza (10000 mg metformin extended release tablet). The lawsuit intends to prevent Watson from marketing the product prior to the expiration of the US Patent nos 6,488,962 and 7,780,987. Because the lawsuit was filed under the provisions of the Hatch-Waxman Act, the ANDA submitted by Watson is not able to be granted approval for up to 30 months or until the resolutions have been resolved.
Based on the sales data generated by IMS Health, the US sales of Glumetza reached $80M in the 12 months ending Feb 28, 2012.
On the same day, the company has also confirmed that Depomed and Valeant have filed a patent infringment lawsuit against Watson in regard to the company’s abbreviated new drug application submitted to the FDA seeking approval to market Glumetza (10000 mg metformin extended release tablet). The lawsuit intends to prevent Watson from marketing the product prior to the expiration of the US Patent nos 6,488,962 and 7,780,987. Because the lawsuit was filed under the provisions of the Hatch-Waxman Act, the ANDA submitted by Watson is not able to be granted approval for up to 30 months or until the resolutions have been resolved.
Based on the sales data generated by IMS Health, the US sales of Glumetza reached $80M in the 12 months ending Feb 28, 2012.
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