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

Published: Jun 12, 2013

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

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.

Help employers find you! Check out all the jobs and post your resume.

Back to news