October 11, 2011
For Immediate Release
Another legal breakthrough - Latanoprost Ophthalmic Solution
Toronto, ON (October 11, 2011) - Apotex Inc. is pleased to announce its latest successful patent challenge, clearing the way to deliver a generic alternative to Xalatan® to the Canadian market. Following a favorable decision at the Court of Appeal, Apo-Latanoprost was released to the Canadian market on October 3rd 2011, nearly three years prior to patent expiry. The savings to the Healthcare system will be approximately $30 million which the provinces can then reinvest into critical areas of healthcare.
"We are proud that our legal victory and launch will deliver needed savings to the healthcare system" stated Jack Kay, Apotex President. "It's only through the support of pharmacy as well as the public and private drug plans, that Apotex can continue to take on patent challenges to deliver cost saving medications to market sooner."
The largest Canadian owned pharmaceutical company, Apotex has over 6,000 employees in 21 facilities, producing 300 pharmaceuticals that are exported to 115 countries. It is the top pharmaceutical R&D company in Canada with planned expenditures of $2 billion over the next ten years. Apotex is also the only significant Canadian producer of pharmaceutical chemicals.