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NEW YORK (AP) – Endo Pharmaceuticals and its partners face a patent challenge from Watson Pharmaceuticals Inc. over a pain patch.
Watson aims to make a generic version of the Lidoderm patch, which is made by Endo with Teikoku Seiyaku Co. Ltd., and Teikoku Pharma USA, Inc.
In a statement Tuesday, Endo said it would "vigorously defend Lidoderm’s intellectual property rights."
Lidoderm was launched in the U.S. in 1999. During the most recent third quarter, revenues from the patch fell slightly to $193 million.
Shares of Endo Pharmaceuticals Holdings Inc., which is based in Chadds Ford, Pa., fell 20 cents, or 0.97 percent, to $20.43 Tuesday. The stock has traded between $15.75 and $24.10 over the last 52 weeks.
Meanwhile shares of Watson, which is based in Corona, Calif., rose $1.33, or 3.2 percent, to $42.23. The stock reached a 52-week high point of $42.26 earlier in the trading session.
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