December 8, 2011
For Immediate Release
$1 billion in savings to Provincial Healthcare budgets and Private Employer Plans with entry of Generic product
Toronto, ON (December 8, 2011) - Apotex Inc., announced that on December 6, 2011, the Federal Court of Canada ruled in favour of Apotex, clearing the way to deliver their generic version of Plavix®, Apo-Clopidogrel, to the Canadian market. Apotex challenged the Sanofi-aventis Plavix® patents for over 8 years, through two Federal Court systems and multiple levels of judicial review including the Supreme Court of Canada.
"Apotex is proud to have been the only generic company in Canada to have successfully taken on enormous risk and lead the legal pursuit to deliver a cost saving alternative to Plavix® for Canadians" stated Mr. Jack Kay, Apotex President. Legal victories such as these are only one part of the effort of delivering more value to the generic market. "Ongoing litigation fuelled by brand companies is a common and growing reality and a potential risk" added Mr. Kay.
According to IMS Health, the Clopidogrel market in Canada is valued at over $300 million in annual brand sales. Apotex's successful litigation of the Plavix® patents, comes 7 years prior to all patents expiring representing an accumulative savings to the Canadian Health Care System of over an estimated $1 billion.
Apotex has approximately 6,000 employees in 21 facilities producing 300 pharmaceuticals that are exported to 115 countries, with planned expenditures of $2 billion over the next 10 years. Apotex is the top pharmaceutical company in Canada, in research and development, and manufacturing, and is also the only significant Canadian producer of pharmaceutical chemicals.
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