Coverage Row Over Teva Patent Deal Sent To Arbitration
By Lance Duroni
Law360, Chicago (October 11, 2013, 6:38 PM ET) -- Illinois Union Insurance Co. must go into arbitration to resolve its feud with Teva Pharmaceutical Industries Inc. over coverage for a small portion of the drugmaker’s recent $1.6 billion patent infringement settlement with Pfizer Inc., a Pennsylvania federal judge ruled Friday.
In a 37-page decision, U.S. District Judge Gene E.K. Pratter sided with Teva, ruling that the case should exit his court for arbitration in London because the parties indeed had agreed to arbitrate such disputes under the policy. Specifically, the Illinois Union excess insurance policy borrows...