Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) said today that it reached a settlement on two Type 2 diabetes drugs.
Teva said that it has entered into an agreement with Takeda Pharmaceutical Company Limited to settle patent litigation related to Teva's generic versions of Takeda’s ACTOS and ACTOplus met in the United States.
Takeda has granted Teva a license to market an authorized generic version of ACTOS in the U.S. beginning on August 17, 2012, or earlier under certain circumstances. Furthermore, Takeda has granted Teva a license to market an authorized generic version of ACTOplus met in the U.S. beginning on December 14, 2012, or earlier under certain circumstances.
The brand products had combined annual sales of approximately $4 billion in the United States, based on IMS sales data.
Teva shares rose 0.2% yesterday to close at $51.10, giving a market cap of $45.94 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on December 22, 2010
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