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Novadel Pharma Inc. Message Board

  • peete3nur peete3nur Jan 23, 2013 5:30 PM Flag

    Why not market Duromist in Canada?

    From a news report in November 2012, less than 3 months ago:

    Generic drugs firms may start producing versions of Viagra in Canada after a court ruled Pfizer's patent was invalid.

    The Supreme Court upheld an appeal by Israel's Teva Pharmaceutical that Pfizer's original patent application was incomplete.

    Pfizer has successfully defended patent lawsuits by Teva against its erectile dysfunction drug in other countries.

    Pfizer said it was "disappointed" by the court's judgement.

    The Supreme Court's ruling was a unanimous 7-0. The court said Pfizer had withheld disclosure of certain information about the drug.

    Justice Louis LeBel wrote on behalf of the court: "As a matter of policy and sound interpretation, patentees cannot be allowed to 'game' the system in this way."

    Pfizer has won patent lawsuits filed by Teva in the US, Spain and New Zealand.

    Pfizer said in a statement: "In its decision, the Court determined that the Viagra patent failed to meet certain written disclosure requirements under the Patent Act. Pfizer expects to face generic competition in Canada shortly.

    "Pfizer is disappointed with the Court's ruling and will continue to vigorously defend against challenges to its intellectual property. Patents provide a vital incentive for biopharmaceutical companies to invest in new and life-saving medicines that benefit millions of patients worldwide."

    Viagra has gone, or is about to go, off-patent in several European countries. The timing depends on when Pfizer originally filed a patent in a country. In Canada, the patent was due to expire in 2014.

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    • That is what makes NVDL so very undervalued right now.

    • Correct me if I'm wrong but doesn't duromist still need to go through testing and further development? I don't think we could do this for at least a few years asuming we could fund the research.

      • 1 Reply to smlcapbyr1
      • Article taken from "The Iron Warrior" from November 28, 2012 :

        "Earlier this month, global pharmaceutical company, Pfizer, lost its legal monopoly rights on Viagra in Canada. The Canadian Supreme Court made a unanimous decision on the matter saying that the company should have its patent taken away. On behalf of the court, Justice Louis LeBel wrote “As a matter of policy and sound interpretation, patentees cannot be allowed to ‘game’ the system in this way.” The issue that Pfizer ran into was the fact that the Viagra patent failed to meet the full disclosure requirements set by Canada’s Patent Act. In order to have monopoly rights, the company must disclose the invention and explain how it works. Unfortunately for Pfizer, rather than explaining that the compound sildenafil citrate is the vital component for the treatment of erectile dysfunction, their patent stated that one of the components of Viagra provided the treatment and never actually specified the exact compound."

        "So what does this mean for Pfizer? Without the patent rights to Viagra, the company is no longer allowed to have a legal monopoly of the product in Canada. This means that Pfizer has essentially lost all its exclusive control over the supply of Viagra in the country. Does this mean that Canadian men with erectile dysfunction are going be screwed over? No. All this means is that other companies, such as the Israel-based Teva Pharmaceuticals, who actually filed the suit against Pfizer, are allowed to market their versions of Viagra now, rather than after the expiry of Pfizer’s patent which was due in 2014. Analysts believe that this will cause Pfizer to lose all of its $80 million dollar revenue it makes from Canada alone. This is because the generic versions of Viagra, being produced by companies like Teva Pharmaceuticals, are predicted to be much cheaper. Fortunately for the company, though this is a hefty profit loss, it is only a small amount from the $2 billion it makes globally from Viagra alone."

        (((((...Not a word from Ratoff about how this affects the potential marketing and
        future revenue from the drug "Duromist"......))))))
        .

        Everybody here should google the word "Duromist" and learn about what it is and its potential.

        .

 
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