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teva says to appeal accupril patent ruling UPDATE 1-Teva says to appeal Accupril patent ruling
June 30, 2004 6:08am ET (Reuters)

(Adds details, background, share price)

JERUSALEM, June 30 (Reuters) - Israel's Teva Pharmaceuticals , the world's largest generic drugmaker, said on Wednesday it planned to appeal a U.S. court's decision to validate Warner-Lambert's patent for Accupril tablets.

The U.S. Food and Drug Administration a year ago granted final approval for Quinapril, Teva's generic version of the anti-hypertension drug, and gave it 180 days of marketing exclusivity for the product.

U.S. sales of Accupril, whose patent expires in 2007, were $589 million in 2003.

Warner Lambert is a subsidiary of Pfizer Inc .

Teva in a statement said its 180 days would start on the earlier of the date of first commercial launch or a final court decision.

Company officials were not immediately available for comment.

Teva also reiterated its guidance for 2004. Last month, it said it expected 2004 sales of at least $4.5 billion and fully diluted earnings per share before charges of $2.70 to $2.74.

Teva's shares were up 0.3 percent at 152.20 shekels in early afternoon trade in Tel Aviv, in line with the broader market.