Business & Finance

Teva Wants to Pay $500M Bond to Block Competitors in MS Drug Manufacture

Teva Pharmaceuticals told the U.S. Supreme Court it will pony up a $500 million bond to block competitors from manufacturing and marketing generic multiple sclerosis medications, according to Reuters.

Teva wants the Supreme Court to suspend a July 2013 decision by the U.S. Court of Appeals for the Federal Circuit "that invalidated some of its patents for the top-selling multiple sclerosis drug, Copaxone," according to the report.

The appeals court ruling gave the go-ahead for Novartis' Sandoz Inc. and Momenta Pharmaceuticals, and Mylan Inc. and Natco Pharma Inc. to develop generic MS drugs.

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