ASTRAZENECA SUES TEVA OVER SCHIZO DRUG REMAKE PLAN

AstraZeneca is suing Teva Pharmaceuticals over the Israeli firm's plans to launch a copycat version of one of its best selling and fastest growing drugs, Seroquel for schizophrenia. Europe's third-biggest drugmaker, also facing a generic challenge to its top-selling ulcer pill Nexium, said on Wednesday it had filed the lawsuit in the New Jersey District Court. The suit was widely expected after AstraZeneca said in September that Teva had applied to US regulators to market a generic version of Seroquel, which generated $2bn of sales in '04, up 33% from '03.

Economic Times (http://economictimes.indiatimes.com/articleshow/1290274.cms)