IVAX PREVAILS OVER BRISTOL-MEYERS SQUIBB IN U.K. PATENT RULING.IVAX Corporation (AMEX AMEX See: American Stock Exchange :IVX), Miami, Fla., has announced that the U.K. Court of Appeals unanimously upheld a 1998 lower court's ruling in favor of IVAX IVAX Industrial Vax (Dec Computer) in which a Bristol-Myers Squibb (BMS BMS abbr. Bachelor of Marine Science ) patent relating to the use of Taxol(R) (paclitaxel) was invalidated. In its decision, the Court of Appeals additionally awarded IVAX an increase in the amount of costs, including legal fees, that it may recover from BMS. IVAX' paclitaxel product is approved for marketing in the European Union as well as Poland, the Czech Republic and Canada. In the U.S., IVAX is awaiting FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval of its generic paclitaxel, which it expects to launch this summer. IVAX Corporation, headquartered in Miami, Florida, is a holding company with subsidiaries engaged in the research, development, manufacturing, and marketing of branded and generic pharmaceuticals and veterinary and diagnostic products in the U.S. and international markets. For more information, call 305/575-6005. |
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