PFIZER has announced a
massive settlement with generic
manufacturers Teva and Sun
Pharmaceutical, who will pay it
US$2.15 billion to settle a patent
infringement case.
The agreement covers the
launches of generic Protonix
(pantoprazole) in the USA, and
will compensate Pfizer for losses
incurred when Teva and Sun
launched generic versions of
the medication before its patent
expired in January 2011.
Teva will pay $1.6 billion and Sun
will pay $550 million, after a court
ruling that the generic versions of
the proton pump inhibitor infringed
a Takeda patent which is licensed to
Pfizer’s Wyeth business in the US.
According to Pfizer the settlement
deal was reached just before
the commencement of a trial to
determine damages.
Teva launched its generic Protonix
in Dec 2007, while Sun’s version
came out in Jan 2008.
Pfizer said that sales of Protonix
dropped almost 60% to $806m in
2008 after the generic releases.The above article was sent to subscribers in Pharmacy Daily's issue from 13 Jun 13 To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 13 Jun 13
IN WESTERN Australia, Michael’s Chemist Group has started stocking therapeutic Nicotine Vaping Products (NVPs), pursuant to the Federal Government’s new vaping laws (PD 25 Mar).
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