Teva To Pay Up To $70M To Settle With Pfizer

Law360 (November 21, 2006, 12:00 AM EST) -- Pfizer Inc. and Teva Pharmaceutical Industries Ltd. have agreed to settle pending patent litigation over generic versions of Pfizer’s antibiotic Zithromax and its cancer drug Idamycin for up to $70 million, the companies said.

Under the terms of the settlement, Israel-based generics maker Teva will continue to sell its own generic version of both drugs and will have the option to sell a generic version of Pfizer’s cancer drug epirubicin in 2007, prior to the patent expiration date of August 2007.

Teva also agreed that it...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.