News Report | August 14, 2000
Eli Lilly Stock Tumbles Following Overturn of Prozac Patent Protection
OPEN MINDS On-Line News
Eli Lilly and Company stock tumbled 31% from just over $107 to $75 per share following a decision by the Court of Appeals for the Federal Circuit in Washington, DC, on August 9, 2000, regarding Lillys patent for Prozac. The court reversed a decision in the case of Eli Lilly and Company v. Barr Laboratories, et al that had given Lillys antidepressant drug Prozac patent protection through December 2003, raising the likelihood for generic competition as early as February 2001.
On March 8, 2000 the U . . .
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