The case pertains to Teva's generic version of Wyeth's Effexor XR antidepressant.
Wyeth (WYE) and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) this week announced that they have reached agreement on the principal terms of a settlement of the US patent infringement litigation pertaining to Teva's generic version of Wyeth's Effexor XR antidepressant. The case, filed in 2003, is pending in the US District Court for the District of New Jersey.
The parties stated that they are currently drafting definitive agreements and intend to submit the settlement agreements to the Federal Trade Commission (FTC).
The parties stated that the terms of the settlement are confidential and subject to a number of conditions, including review of the settlement by the FTC and the approval of the court.
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, October 19, 2005