Pfizer Lands $2.15B Settlement From Teva, Sun Over Protonix

Law360, New York (June 12, 2013, 12:14 PM EDT) -- Pfizer Inc. said Wednesday that it has reached a $2.15 billion settlement with generic-drug makers Teva Pharmaceutical Industries Ltd. and Sun Pharmaceutical Industries Ltd. to resolve more than nine years of patent litigation over the acid-reflux drug Protonix.

Teva will pay Pfizer and licensing partner Takeda Pharmaceutical Co. $1.6 billion and Sun will pay them $550 million, putting to rest Pfizer's long-running claim that their launch of generic versions of Protonix violated its patent for the drug.

“We are pleased with today's settlement, which recognizes the...
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