Teva has committed not to market Neupogen and Neulasta until November 2013.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has reached a settlement with Amgen Inc. (AMGN: Nasdaq) regarding an alleged patent infringement of two cancer treatment drugs for patients undergoing chemotherapy. Teva committed not to market the drugs in the US until November 2013. Teva will also pay no compensation to Amgen for the drugs it has already sold.
The drugs involved are Neupogen and Neulasta, which together had sales of $4.8 billion worldwide in 2010.
Teva had already launched generic versions of these drugs and sold large amounts of them before the legal struggle began.
Teva's share price was down 2.5% in morning trading on the TASE to NIS 165.20. On Friday the share price fell 0.95% on Nasdaq at $47.97, giving a market cap of $42.84 billon.
Published by Globes, Israel business news - www.globes-online.com - on July 17, 2011
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