AstraZeneca Shares Jump More than 10% on U.S. Ruling

June 30, 2010
Ruling of 'valid and enforceable' patent ends three year battle with nine generic drugs manufacturers

After the company won a key U.S. ruling over its cholesterol drug Crestor, shares in Anglo-Swedish pharmaceuticals giant AstraZeneca soared by more than 10% on June 30.

The company's share price surged 10.49% to 3,256.01 pence in morning deals on the London stock market, which was showing a gain of 0.44%.

A court has ruled that AstraZeneca's patent on Crestor was "valid and enforceable", ending a three-year battle with nine generic drugs manufacturers, the group said.

Crestor generated $2.1 billion of sales in the United States last year and is a key product for AstraZeneca.

"The court's decision reaffirms the strength of the intellectual property protecting Crestor," said Chief executive David Brennan.

Copyright Agence France-Presse, 2010

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