The third time is the charm. After being distributed for three judicial conferences, the Supreme Court granted Teva Pharmaceutical's petition for writ of certiorari on Monday.
The Stakes Are High
The Teva case is a patent dispute surrounding the multiple-sclerosis drug Copaxone. Teva Pharmaceuticals holds the patents for Copaxone, and a decision in its favor would keep the patents alive until September 2015. Generic manufacturers want to release their generic drug in May -- which technically they could, under the Federal Circuit's decision. Annual U.S. sales of Copaxone make up more than half of Teva's profit, and reach over $3 billion annually, so there is much at stake for both Teva, and generic manufacturers, reports Blooomberg.