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Teva Pharmaceutical Industries Limited (TEVA), Sun Pharmaceutical Industries Ltd to Pay $2.15 Billion to Settle Pfizer Inc. (PFE) Patent Suit


6/12/2013 7:37:13 AM

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Pfizer Inc said Teva Pharmaceuticals Industries Ltd and Sun Pharmaceutical Industries Ltd would pay $2.15 billion to settle a patent infringement lawsuit related to its acid-reflux drug Protonix. Japan's Takeda Pharmaceutical Co Ltd, Pfizer's partner on the drug, will receive 36 percent or about $774 million from the settlement. Pfizer won a protracted 10-year legal battle in April 2010 when a New Jersey jury ruled that Teva had infringed the Protonix patent. Teva started selling a generic version of the drug in 2007. (r.reuters.com/xuv78t) A trial to determine damages began on Monday.

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