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Wyeth, Teva Strike Deal On Antidepressant Generic

Law360 (October 19, 2005, 12:00 AM EDT) -- Wyeth has reached a settlement with Israeli generic drug maker Teva Pharmaceuticals in their dispute over patent rights to the lucrative antidepressant Effexor XR, only days before the two-year-old case was set to go to trial.

The settlement resolves litigation filed in March 2003 in the U.S. District Court for the District of New Jersey. The terms will not be made public until final approval from the Federal Trade Commission in about six weeks, the companies said.

However, analysts suspect that Wyeth’s chances of sustaining the...
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