Proneuron to sue Teva for billions in Copaxone damages - (Globes via NewsPoints Desk)

  • A court ordered Teva to restore Copaxone rights for treatment of diseases other than multiple sclerosis to Proneuron Biotechnologies, but the patent has expired, rendering the rights useless, reported Globes.

  • In January, Israel's Supreme Court dismissed an appeal by Teva, and upheld a ruling that Teva had violated a contract with Proneuron, and therefore had to restore it with the rights to develop Copaxone for diseases other than multiple sclerosis, but without damages, which were not part of the lawsuit.

  • This right has lost most of its value, because the product has become generic, the news source noted.

  • However, Globes cited sources as saying Proneuron will file a multibillion-dollar lawsuit against Teva for damages.

  • Proneuron alleges that it could have earned billions of dollars from the product, had Teva restored the Copaxone rights to Proneuron in 2006, when the case began, and Copaxone's patent was still valid, the news source said.

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