Actavis Group has notified Depomed Inc regarding approval from FDA to market generic version of Gralise. Depomed has confirmed the notification. Gralise is once a day pain reliever rx medicine. Depomed possesses exclusive patent rights for Gralise. Approval of Gralise generic version may be trouble for Depomed.
Stock price of Depomed reacted with sharp 3.5% down, though, daily stock price were up by 22%.
However, chief executive of company is confident to retain exclusive marketing rights of popular orphan drug.
As per the law, Depomed now has 45 days to object approval for generic of Gralise. Company can prevent FDA to approve generic version for another 30 months if approval is in violation of patent law.
The company rejected some of the claims by Actavis as invalid or unenforceable when it is about infringement of Gralise patent.
Gralise is pain killer medicine to treat long-lasting pain such as postherpetic neuralgia. Other pain reliever medicine like generic Celebrex can treat short term pain. It works with unique delivery system which relieves pain for longer duration.
Another drug for which Depomed enjoys exclusive rights is Glumetza. It is type 2 diabetes medicine.
Stock price of Depomed reacted with sharp 3.5% down, though, daily stock price were up by 22%.
However, chief executive of company is confident to retain exclusive marketing rights of popular orphan drug.
As per the law, Depomed now has 45 days to object approval for generic of Gralise. Company can prevent FDA to approve generic version for another 30 months if approval is in violation of patent law.
The company rejected some of the claims by Actavis as invalid or unenforceable when it is about infringement of Gralise patent.
Gralise is pain killer medicine to treat long-lasting pain such as postherpetic neuralgia. Other pain reliever medicine like generic Celebrex can treat short term pain. It works with unique delivery system which relieves pain for longer duration.
Another drug for which Depomed enjoys exclusive rights is Glumetza. It is type 2 diabetes medicine.
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