Published on January 7, 2010 at 2:43 AM
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that
it has entered into two definitive agreements with AstraZeneca to settle
patent litigation regarding Teva’s U.S. generic versions of
AstraZeneca’s Prilosec® (omeprazole) and Nexium® (esomeprazole),
including all claims for patent infringement and damages.
Under the terms of the omeprazole agreement, Teva will obtain a release
for all past sales of its generic omeprazole and will continue to market
its product in the U.S. and will make a one-time payment to AstraZeneca.
As part of the esomeprazole agreement, AstraZeneca has granted Teva a
license, subject to regulatory approval, to enter the U.S. market with
its generic esomeprazole delayed-release capsules on May 27, 2014, or
earlier in certain circumstances. Additional details were not disclosed.
http://www.tevapharm.com/