Tuesday May 6, 03:48 PM
Sector movers: Symbicort patent blow for Astra
LONDON (ShareCast) - AstraZeneca (LSE: AZN.L - news) has had its European patent for the use of Symbicort in the treatment of chronic
obstructive pulmonary disease (COPD) revoked after an appeal from generic manufacturers Norton Healthcare and Generics UK. The patent is one of two patents covering the Symbicort combination (formoterol and budesonide) in treating COPD throughout Europe. The original patent expiration for this patent was 2018. The second of the two patents (EPB1210943) is currently under separate opposition. "Symbicort is a strong brand and constitutes an important part of our growth potential for the coming years in Europe, where we have data exclusivity protection until August 2010,' said David Brennan, chief executive. AstraZeneca will continue to defend and enforce its remaining intellectual property rights protecting Symbicort, he added. This portfolio includes patents and applications for processes, formulations, delivery devices (M3 Turbuhaler) and use 'as needed' (Symbicort SMART), with expiration dates up to 2019. In addition to these patents, Symbicort(R) retains data exclusivity until August 2010 in some European markets. On October 18, 2007 the EPO Technical Board of Appeal made a final ruling that the European Combination patent for Symbicort (EPB 0613371) was revoked. Miner Xstrata (LSE: XTA.L - news) said first quarter production levels increased in copper, semi-soft coking coal, platinum, ferrochrome, mined zinc and lead, but nickel production was down. Electricity supplies at Xstrata's South African operations continue to be restricted to 90% of total demand, and this is having an adverse impact on ferrochrome and vanadium production and, to a smaller extent, South African thermal coal. Substantial increases in selling prices versus the first quarter of 2007 were achieved for copper, platinum, ferrochrome, thermal and coking coal prices. Nickel and zinc prices have come off the top since their peak in the early part of 2007 but remain well in excess of historical levels. The company said thermal coal contracts have been settled with long-term customers in Japan for the 2008/9 Japanese contract year at prices of up to $125 per tonne, up 125% on the preceding year, but Xstrata's hard coking coal contracts have yet to be settled. Nevertheless, the company is confident that contraxct prices in 2008 will be substantially above those seen in 2007. The outlook for Xstrata's financial and operating performance in 2008 remains very positive, the company said. Top performing sectors so far today
Oil Equipment Services & Distribution 17,640.90 +2.52%
Industrial Metals 10,178.50 +2.27%
Mining 27,778.20 +1.88%
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Forestry & Paper 4,324.70 +0.82% Bottom performing sectors so far today
General Retailers 1,591.20 -2.83%
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Health Care Equipment & Services 3,406.00 -1.93%
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Chemicals 5,353.90 -1.64%
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