Pharmaceutical company AstraZeneca PLC says that a British court has ruled that its patent on antidepressant drug Seroquel, XR is invalid.
Thursday's ruling came in a challenge brought by Accord Healthcare Ltd., Intas Pharmaceuticals Ltd., Hexal AG and Sandoz Ltd., Teva UK Ltd., and Teva Pharmaceutical Industries Ltd.
AstraZeneca, which is trying to fend off generic competition, says this is the first ruling against the company on this matter. It has already won a case in the Netherlands and is dealing with similar actions in Spain and the United States.
AstraZeneca shares were down half a percent at 2,836 pence in London following the announcement.