Pfizer Loses in Canadian Court, Salix Wins Its Q3: Healthcare Business Wrap

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The top court in Canada says that Pfizer’s (NYSE:PFE) Viagra patent is no longer valid, which decision supports an appeal by the generic drug maker Teva Pharmaceutical (NYSE:TEVA), that claimed the former had not supplied sufficient details when it first filed its patent registration.

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Catalyst Pharmaceutical Partners (NASDAQ:CPRX) shares lost more than two-thirds of their value, following the firm saying that its potential cocaine addiction treatment, CPP-109, failed to meet primary endpoints against a placebo in Phase II studies. In addition, the data indicated that two key secondary endpoints, a significantly larger increase in cocaine negative urines and a significant reduction in the weekly fraction of use days in medication-treated subjects, were not met.

Shares of the drug developer Salix Pharmaceuticals (NASDAQ:SLXP) jumped subsequent to its third quarter earnings coming in far above expectations, along with raising its fiscal year 2012 profit guidance for the third time in a year. Sales of its key antibiotic drug Xifaxan soared by 43 percent, leaving estimates far behind.

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