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Pozen says Texas court upholds Treximet patents
U.S. Court News |
2011/08/08 09:29
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Drug developer Pozen Inc. said Monday that a Texas court upheld three patents supporting its migraine drug Treximet.
Pozen said the U.S. District Court for the Eastern District of Texas ruled that the patents were valid. The court also found that generic versions of Treximet developed by Par Pharmaceutical Co. and Dr. Reddy's Laboratories Ltd. infringed on all three patents, while a version developed by Alphapharm Pty Ltd. infringed on two patents. Teva Pharmaceutical Industries Ltd. had also challenged the patents, but was dismissed from Pozen's lawsuit in April 2010 after it agreed to abide by the court's decision.
The court said the Food and Drug Administration cannot approve the generics made by Dr. Reddy's and Par until Feb. 2, 2025, and that the agency can't approve the Alphapharm generic until Aug. 14, 2017.
Treximet is a combination of GlaxoSmithKline PLC's drug Imitrex and an anti-inflammatory drug developed by Pozen. GlaxoSmithKline markets the drug and pays royalties to Pozen. In the second quarter, those royalty payments accounted for $4 million of Pozen's $4.6 million in total revenue.
The FDA approved Treximet in April 2008 after years of delays, and Par filed for approval of its generic in October of that year. |
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Lawyer pleads guilty to $47 million Ponzi scheme
U.S. Court News |
2011/08/06 09:16
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An Arkansas lawyer and businessman admitted today to staging a Ponzi scheme that netted more than $47 million, a scam that a prosecutor called the largest case of fraud in state history.
Kevin Lewis, 43, pleaded guilty today to one count of bank fraud in federal district court in Little Rock. He could face up to 30 years in prison, though U.S. Attorney Christopher Thyer said Lewis would likely receive between 10 to 13 years.
He will also have to pay restitution of almost $40 million, though that number could go down further as banks work to recover their losses.
Lewis acknowledged that he issued paperwork for fake rural improvement bonds often used by developers to defraud several Arkansas banks starting with a small bond in 1997.
That money went to maintain his business interests across the state, which range from a law firm to a clothing company. He used the money to make the payments on past fake bonds and support a personal lifestyle that included a house valued at more than $1 million, fancy cars and vacations, Thyer said.
Meanwhile, the bank that bought almost $23 million of the fake bonds, First Southern Bank in Batesville, was placed into receivership by authorities, Thyer said. Lewis had purchased majority ownership of First Southern, using a loan from another Arkansas bank that was backed by the fake bonds. |
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Calif. court hears appeal on gay juror dismissals
U.S. Court News |
2011/08/05 09:16
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A federal appeals case pending in California could determine if trial lawyers should be barred from dismissing potential jurors because they are gay.
The U.S. 9th Circuit Court of Appeals heard arguments Thursday in Pasadena that challenge a Los Angeles prosecutor's decision to strike a lesbian from the jury in an assault case against a gay federal inmate.
The Los Angeles Times reports a favorable ruling could extend constitutional discrimination protections to homosexuality, along with race, creed and gender.
Inmate Daniel Osazuwa says he hugged a guard who was homophobic and he overreacted. The guard fell and Osazuwa landed on him.
A public defender argues the trial judge erred in dismissing a lesbian from the jury, but a prosecutor says she was let go for another legitimate reason. |
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NYC lawyer pleads guilty to tax charge
U.S. Court News |
2011/08/04 09:15
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A lawyer has pleaded guilty to not paying taxes on nearly $11 million in income while working at a major Wall Street law firm.
John O'Brien entered the plea Thursday in federal court in Manhattan.
The government had accused the 48-year-old O'Brien of failing to pay $2.5 million taxes on $10.8 million in income from 2001 to 2008. They say during that time, he splurged on a weekend home, international travel and a rare book business.
Prosecutors say O'Brien has agreed to pay $2.8 million in back taxes and interest. At his Nov. 16 sentencing, he faces a maximum of four years in prison, though the term will probably be shorter under sentencing guidelines. |
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