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Astra shares up 6 pct on Seroquel court ruling
Securities |
2008/07/02 06:52
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Shares in AstraZeneca PLC jumped 6 percent Wednesday after the drug maker won a key patent battle in the United States over Seroquel, its anti-psychotic drug and second-best seller. The decision by a U.S. court to award a summary judgment in AstraZeneca's favor avoids the need for a full trial and means that generic copies of Seroquel, which raked in $4 billion in sales last year, will not be launched any time soon. "We are pleased with the court's decision to uphold our valid intellectual property," AstraZeneca chief executive officer David Brennan said in a statement. Shares rose 6.1 percent to 2,260 pence ($44.88) in London. Shares jumped 3.4 percent to $44.89 in premarket trade on the New York Stock Exchange. Teva Pharmaceutical Industries Ltd., the world's biggest generic drug maker, said it plans to appeal the judgment by the U.S. District Court for the District of New Jersey. A summary judgment of "No Inequitable Conduct" is traditionally difficult to win because it requires the company to prove the intent of the patent holder. |
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McCain criticizes Obama's high court favorites
Politics |
2008/07/02 05:52
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Republican John McCain said Tuesday that his Democratic rival's Supreme Court nominees would produce more decisions like the child rapist ruling that both presidential candidates have criticized. Addressing the National Sheriff's Association, McCain acknowledged that Democrat Barack Obama had also disagreed with the decision that struck down a Louisiana law allowing capital punishment for people who rape children under 12. Obama said he believed carefully crafted state laws permitting execution of child rapists do not violate the Constitution. Nevertheless, McCain asked: "Why is it that the majority includes the same justices he usually holds out as the models for future nominations?" "My opponent may not care for this particular decision, but it was exactly the kind of opinion we could expect from an Obama court," the Arizona senator said. When asked by CNN in May whether any current justices would be models for his nominees, Obama replied that he considered Stephen Breyer, Ruth Bader Ginsburg and David Souter to be sensible judges. All three voted in the majority in the child rape case, as did Justices Anthony Kennedy and John Paul Stevens. McCain himself voted to confirm four of the five who voted in the majority. He was not in the Senate in 1975 when Stevens was confirmed. |
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R.I. high court overturns lead paint verdict
Court Watch |
2008/07/02 03:53
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Rhode Island's Supreme Court on Tuesday overturned a first-in-the-nation jury verdict that found three former lead paint companies responsible for creating a public nuisance, rejecting a closely watched case that had been seen as a bellwether for potential suits across the country. The 4-0 decision ends the nearly decade-long court fight and spares the companies from potentially billions in cleanup costs for hundreds of thousands of contaminated homes. Rhode Island was the first state to successfully sue former makers of lead pigment and paint, which can cause learning disabilities, brain damage and other health problems in children. A jury in 2006 found Sherwin-Williams Co., NL Industries, Inc. and Millennium Holdings LLC liable for creating a public nuisance by manufacturing a toxic product. The state had proposed that the companies spend $2.4 billion inspecting and cleaning hundreds of thousands of Rhode Island homes believed to contain lead paint. The ruling was immediately denounced by groups supporting punitive action against paint companies. |
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Court criticizes govt evidence in Guantanamo hearing
Political and Legal |
2008/07/01 07:53
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A US federal appeals court has overturned the designation of a Muslim from western China as an enemy combatant and sharply criticized the government's evidence against him, court documents showed Monday. In an opinion issued June 20 and declassified Monday, the three-judge panel condemned the government for relying on questionable evidence against Huzaifa Parhat, who has been held at the Guantanamo Bay detention camp, Cuba, for six years. The ruling, thought to be the first successful appeal of a detainee's designation as an enemy combatant, ordered the government to release, transfer or hold a new military tribunal hearing for Parhat. Parhat, a member of China's Muslim Uighur minority, claimed to have fled China in 2001 to an Uighur camp in Afghanistan. The camp was destroyed during US air strikes against the Taliban in October 2001, and he fled again to Pakistan. It was there that Parhat was handed over to US authorities and in June 2002 was transferred to Guantanamo, where he remains. A military tribunal assessed Parhat's status in 2004 and, while finding he had not engaged in hostilities against the United States or its allies, ruled he was an enemy combatant because he had lived at the Afghan camp. The camp was run by the leader of an Uighur independence group, known as the East Turkistan Islamic Movement (ETIM), which was allegedly "associated" with the Taliban and Al Qaeda, court documents show. The main evidence against Parhat consisted of four government intelligence documents which described activities and relationships that had "reportedly" occurred, were "said to" or "suspected" of having taken place. The court said these assertions could not be verified. The 39-page opinion also noted the government had suggested that "several of the assertions in the intelligence documents are reliable because they are made in at least three different documents." It cited Lewis Carroll's "The Hunting of the Snark," where a character absurdly declares: "I have said it thrice: what I tell you three times is true," and said it had no reason to suggest the documents were not all based on the same source. The opinion also noted that Parhat had made a "credible argument that ... the common source is the Chinese government, which may be less than objective with respect to the Uighurs," who allege oppression by Beijing. In addition, the court rejected the government's assertion that statements made in the documents "are reliable because the State and Defense Departments would not have put them in intelligence documents were that not the case." "This comes perilously close to suggesting that whatever the government says must be treated as true," the panel said, which would negate any need for a military tribunal or judicial review of tribunal decisions. The Justice Department was quoted by the Washington Post as saying that "we are evaluating our options" following the ruling. |
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High court overturns lead paint verdict
Court Watch |
2008/07/01 07:52
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The Rhode Island Supreme Court overturned a landmark verdict against three former lead paint producers Tuesday, a major setback for communities that want the companies to decontaminate hundreds of thousands of homes and other buildings. The unanimous decision reversed the lone victory to date against the lead paint industry. A jury found Sherwin-Williams Co., NL Industries Inc. and Millennium Holdings LLC liable in 2006 for creating a public nuisance by manufacturing and selling a toxic product. The state had proposed that the companies spend an estimated $2.4 billion to inspect and clean hundreds of thousands of homes built before 1980 that it said were likely to contain lead paint. The court, in its 4-0 decision, said the state's lawsuit should have been dismissed at the outset. It said that while lead paint was a public health problem in Rhode Island, it wasn't the companies' responsibility to clean it up because they had no control over how the paint was used. |
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N.D. Supreme Court revives workers' comp charges
Breaking Legal News |
2008/07/01 07:52
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North Dakota's Supreme Court revived two felony charges Monday against a former state workers' compensation director, saying prosecutors may put him on trial for allegedly misspending more than $18,000 in agency funds. Sandy Blunt was forced out as Workforce Safety and Insurance's director last December. He had been the agency's top executive since April 2004. Blunt is accused of illegally spending $7,200 on bonuses for Jodi Bjornson, the top lawyer at Workforce Safety and Insurance; John Halvorson, the agency's chief of employer services; and Mark Armstrong, its communications director. He also is charged with making $11,384 in unauthorized expenditures over a number of months for food, gifts, trinkets and other items for employee meetings and functions, and on meals for state legislators. The money paid for grill rentals, trolley rides to a meeting at Fort Lincoln State Park, four cases of peppermint patties, Fourth of July holiday items, and candy and balloons for "Bring Your Kids to Work Day," among other items. Prosecutors say the misspending on employee gifts is a felony punishable by up to 10 years in prison and a $10,000 fine. Awarding the bonuses, they say, is a lesser felony, punishable by five years in prison and a $5,000 fine. |
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