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Mylan Sues FDA for Approval of Generic Version of Diovan

Mylan Inc. sued the U.S. Food and Drug Administration for approval to sell a generic version of Novartis AG (NOVN)’s heart pill Diovan after a competitor failed to get the drug on the market in time.

Mylan, in a lawsuit filed today in federal court in Washington, said Ranbaxy Laboratories Ltd. (RBXY) forfeited its right to six-month exclusivity to sell the generic drug by not winning FDA approval. Mylan argues the FDA’s refusal to approve its sale of the drug is arbitrary and capricious and an abuse of discretion.

“Ranbaxy failed to receive tentative approval prior to the statutory 30-month forfeiture deadline, and no statutory exception to forfeiture applies,” Mylan said in its complaint.

On Sept. 21, Mylan, based in Canonsburg, Pennsylvania, announced a copy of Diovan HCT, a combination of the Novartis drug and hydrochlorothiazide, a diuretic, while Novartis’ own generics unit started marketing a branded version of the same drug.

Sandy Walsh, an FDA spokeswoman, said the agency doesn’t comment on pending litigation.

Diovan generated $5.7 billion in revenue around the world last year, according to Basel, Switzerland-based Novartis’ annual report.

The case is Mylan Laboratories v. U.S. Food and Drug Administration, 12-cv-01637, U.S. District Court, District of Columbia (Washington).

To contact the reporter on this story: Tom Schoenberg in Washington at tschoenberg@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Personal Finance Best Sellers From Amazon

Key Rates

  • Mortgage
  • Home Equity
  • Savings
  • Auto
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Today’s national average mortgage rates. Rates may include points.
Type Today 1 Mo
30 Year Fixed Jumbo 4.33% 3.99%
30 Year Fixed 3.98% 3.66%
15 Year Fixed 3.09% 2.79%
10 Year Fixed 3.01% 2.89%
30 Year Fixed Refi 3.97% 3.64%
15 Year Fixed Refi 3.08% 2.79%
5/1 ARM 2.85% 2.59%
5/1 ARM Refi 2.84% 2.60%
View rates in your area »

Source: Bankrate.com

Today’s average home equity rates nationwide.
Type Today 1 Mo
$30K HELOC 5.34% 5.34%
$50K HELOC 4.55% 4.56%
$75K HELOC 4.52% 4.57%
$100K HELOC 4.23% 4.27%
$30K Home Equity Loan 5.96% 5.97%
$50K Home Equity Loan 5.97% 6.01%
$75K Home Equity Loan 5.91% 5.97%
$100K Home Equity Loan 5.78% 5.84%
View rates in your area »

Source: Bankrate.com

Today’s average savings rates nationwide.
Type Today 1 Mo
5 Year CD 1.23% 1.23%
2 Year CD 0.70% 0.70%
1 Year CD 0.56% 0.57%
MMA $10K+ 0.46% 0.47%
MMA $50K+ 0.68% 0.69%
MMA Savings Jumbo 0.58% 0.59%
View rates in your area »

Source: Bankrate.com

Today’s average auto loan rates nationwide.
Type Today 1 Mo
60 Months Used Car 2.72% 2.98%
48 Months Used Car 2.70% 2.93%
36 Months Used Car 2.76% 2.89%
72 Months New Car 2.50% 2.43%
60 Months New Car 2.65% 2.54%
48 Months New Car 2.51% 2.45%
60 Months Auto Refi 4.00% 4.15%
36 Months Auto Refi 3.51% 3.61%
View rates in your area »

Source: Bankrate.com

Today’s average credit card rates nationwide.
Type Today 1 Mo
Standard Variable 14.12% 14.12%
Standard Fixed 13.23% 13.23%
Gold Variable 12.70% 12.70%
Gold Fixed 11.99% 11.99%
Platinum Variable 15.54% 15.53%
Platinum Fixed 12.70% 12.70%
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Source: Bankrate.com