Healthcare Business Update: Astex Sees EU Okay, Pozen Prevails In Court Ruling
Astex Pharmaceuticals (ASTX) announces that its drug Dacogen which treats a type of leukemia, has been approved by the European Commission, calling it “the world’s first medicine approved and labeled specifically for elderly acute myeloid leukemia.” The company receives royalties from its licensee Eisai and anticipates $17.5 million in future payments should milestones continue worldwide. Eisai holds marketing and development rights in North America.
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Pozen’s (NASDAQ:POZN) previous lower court decision against Par Pharmaceutical Companies (NYSE:PRX), Dr. Reddy’s Laboratories Limited (NYSE:RDY), and Alphapharm has been upheld by a United States appeals court. The prior ruling found Pozen’s patent valid, and blocked Par and Dr. Reddy’s from selling a generic version of its migraine drug Treximet until 2025.
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