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Novartis AG (NVS) Financial News - Sanofi Seeks to Halt Lovenox Generic

Novartis AG (NVS)

Sanofi Seeks to Halt Lovenox Generic

Quote: By ALICIA MUNDYWASHINGTON—Sanofi-Aventis SA filed papers in federal court Monday seeking a temporary restraining order that would prevent a rival company from selling a copycat version of Sanofi's top-selling blood thinner Lovenox.Sandoz, a unit of the European pharmaceutical giant Novartis AG, and partner Momenta Pharmaceuticals Inc. of Boston won Food and Drug Administration approval last Friday for a generic version of Lovenox. In court papers in Washington, D.C., Sanofi said it wants a temporary order "requiring the FDA to withdraw its approval" of the Sandoz application.Sanofi said the FDA acted arbitrarily and capriciously in granting the approval. Lovenox, a rapid-acting blood thinner, brought roughly $4 billion in sales to Sanofi in 2009. "The company believes that this case poses a number of significant questions regarding the FDA review process for complex pharmaceutical products which are important to pursue," Sanofi said in a statement. The company has said Lovenox is too complex to be matched fully by a generic maker. Representatives of Sandoz and Momenta could not be immediately reached for comment. Momenta said last week that the FDA's decision "demonstrates our ability to characterize and develop a complex mixture drug like Lovenox."Momenta has been in a battle with a California biotech company, Amphastar Pharmaceuticals Inc., for several years to win FDA approval to make the drug. Heparin is crucial to millions of cardiac and diabetes patients. The rapid-acting heparin, which carries the generic name enoxaparin, serves an expanding market of consumers with heart disease and obesity-related diabetes. Sanofi has attempted to keep the FDA from approving a generic Lovenox, and in June outside researchers with ties to the company filed citizens' petitions to the FDA to stop any approval. The FDA told Amphastar and Sandoz-Momenta in 2007 that it wanted further safety testing con...
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Novartis AG Stock Summary

Novartis AG, through its subsidiaries, engages in the research, development, manufacture, and marketing of healthcare products worldwide. Its Pharmaceuticals division engages in the research, development, manufacture, distribution, and sale of pharmaceuticals in various therapeutic areas, including cardiovascular and metabolism; oncology; neuroscience and ophthalmics; respiratory; and immunology and infectious diseases. The company?s Vaccines and Diagnostics division offers preventive vaccine treatments and diagnostic tools. It provides influenza, meningococcal, pediatric, and traveler vaccines; and blood testing and molecular diagnostics to prevent the spread of infectious diseases. The company?s Sandoz division offers drugs, as well as pharmaceutical and biotechnological active substances. This division provides active ingredients and finished dosage forms of pharmaceuticals; anti-infectives; protein or biotechnology-based products; and biotech manufacturing to other companies on a contract basis. Its Consumer Health division consists of three business units: over-the-counter medicines (OTC), Animal Health, and CIBA Vision. OTC offers over-the-counter self medications. Animal Health provides veterinary products for farm and companion animals. CIBA Vision manufactures contact lenses and lens care products. Novartis AG has strategic alliance with Intercell AG to develop vaccines; CombinatoRx Incorporated to discover anti-cancer combinations; Ablynx NV for the discovery and development of Nanobody-based therapeutics; and MorphoSys AG. It also has research and development collaboration agreements with EpiStem Holdings Plc; Euroscreen S.A.; Nuevolution A/S; and Locus Pharmaceuticals, Inc. The company was founded in 1895 and is headquartered in Basel, Switzerland.
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