Lawsuit coming in dispute over heartburn drugs
NEW YORK — A patent dispute over the heartburn drug Protonix escalated Monday when Wyeth said it will sue to recover lost profits from sales of Teva Pharmaceutical Industries Ltd.’s generic version.
Meanwhile, the companies are still discussing a possible settlement, and Teva said it is voluntarily halting additional shipments of the generic drug for 30 days.
Teva has already been awarded a 180-day period of market exclusivity for being the first company to file for a generic version of the drug, which the Food and Drug Administration approved in August.
Wyeth also said Monday that the FDA demanded that the drugmaker answer more questions before it can rule on its experimental osteoporosis medicine, bazedoxifene.
AspenBio takes in financing
CASTLE ROCK — AspenBio Pharma Inc., a biopharmaceutical company, has closed a previously announced equity financing with a group of existing and new investors.
The $18.2 million in gross proceeds were generated from the sale of about 2.5 million shares of the company’s common stock. Net proceeds totaled about $17.1 million.
Eight-skier gondola planned
KEYSTONE — Keystone has announced plans to install a state-of-the-art eight-passenger gondola to replace the current River Run Gondola for the 2008-09 season.
Keystone said a key component of the plan includes moving the bottom terminal of the new River Run Gondola into the River Run Village.
Maxjet shuts down
DULLES, Va. — Maxjet Airways Inc., the 2-year-old business-class carrier that flew between London and the U.S., ceased operations and filed for bankruptcy protection Monday as fuel costs rose and demand weakened.
Oil futures rise
NEW YORK — Oil futures drifted higher in light holiday trading Monday after predictions of a drop in crude inventories raised new supply concerns. Light, sweet crude for February delivery rose 82 cents to settle at $94.13 a barrel on the New York Mercantile Exchange after falling as low as $92.50 earlier.
