Teva Pharmaceutical Industries enters into two definitive agreements with AstraZeneca

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/

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