Eli Lilly & Co. has lost a lawsuit aimed at protecting its patent for the ADHD drug Strattera. As a result, it has lowered its earnings expectations for the year.

“The U.S. District Court for the District of New Jersey ruled against the company, saying its method-of-use patent for the drug is invalid. The patent had been set to expire in May 2017. The drugmaker said it plans to appeal the ruling, but noted that it now faces the prospects of potentially having to compete with a generic version of the drug.” [Source: Associated Press]

The ruling opens the door for Eli Lilly competitors to develop and market generic versions of Strattera. In addition to reducing its revenue outlook, the company also announced its intent to cut at least $1 billion of operating costs, including laying off some full-time employees.

Labels: medications, drugs

Posted By: CRC Health Group