Teva Pharmaceutical gets tentative FDA approval for drug in patent dispute

Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) Wednesday said the Food and Drug Administration had granted tentative approval to the company's abbreviated new drug application to market a gastric-acid pump inhibitor.

The product is a generic form of TAP Pharmaceutical's drug Prevacid. Teva is currently involved in patent dispute litigation over the drug.

The count ruling over the case said it would issue a decision about the trial before June 7, when the mandatory 30-month stay of FDA approval associated with the litigation expires.Shares of Teva fell 1.9% to $45.03 on Wednesday.

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