AstraZeneca Wins Patent Protection on Seroquel: Hot Trends
NEW YORK (TheStreet) -- Popular searches on the Internet Friday include AstraZeneca(AZN) after the company won a U.S. court ruling protecting its patent on the extended release version of Seroquel, its successful drug for the treatment of bipolar disorder.
The ruling will protect Seroquel from generic competition until a patent expires in 2017. The court also ruled that Anchen Pharmaceuticals, Osmotica Pharmaceutical Corp., Torrent Pharmaceuticals Ltd., Torrent Pharma Inc., Mylan Pharmaceuticals Inc. and Mylan Inc. have infringed on AstraZeneca's patent.
Seroquel is the company's second-largest brand.
Apple(AAPL) is trending as the tech titan and its manufacturing supplier Foxconn have agreed to take on violations of working conditions in China.
Violations were found among the workplaces of 1.2 million workers assembling iPhones and iPads in the country. Foxconn now intends to hire tens of thousands of new workers, eliminate illegal overtime, increase safety measures and upgrade workers' housing.
The move comes after a probe by the Fair Labor Association, which found many violations of labor law. Apple agreed to the investigation, in hopes of assuaging criticism the company received about its treatment of Chinese workers.
PetroChina said it pumped 2.4 million barrels a day in 2011, exceeding Exxon by 100,000. In addition, PetroChina's output increased 3.3% last year, while Exxon's dropped 5%. PetroChina has experienced considerable growth from maximizing the oil it pumps from its reserves in China, as well as acquiring new reserves in Iraq, Australia, Qatar, Africa and Canada.
The company was started by the Chinese government, which currently owns 86% of its stock, in an effort to secure more oil for the country.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.