Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has reached a settlement with Perrigo Company (NYSE:PRGO; TASE:PRGO) and with Catalent Pharma Solutions with over four patents for its ProAir HFA (albuterol sulfate) inhalation aerosol product. This will allow Perrigo and Catalent to sell a generic version of the product in limited quantities between December 2016 and June 2018, when limit will cease to apply.
In the first quarter of 2014, US sales of ProAir were $114 million, 30% more than in the corresponding period of 2013.
Teva also recently settled its patent infringement lawsuits for Nuvigil, a treatment for excessive sleepiness caused by sleep apnea, narcolepsy, or shift work sleep disorder. Teva has granted licenses to Sandoz, Actavis, Lupin and Apotex allowing these companies to market their generic versions of Nuvigil (50 mg, 150 mg and 250 mg) 180 days after Mylan’s launch. Mylan was the first generic company to file an abbreviated new drug application (ANDA) for these dosages. Teva already has an agreement with Mylan granting it a license to sell its generic version of Nuvigil from Jun 2016, or earlier under certain circumstances.
Nuvigil had sales of $320 million in 2013 and $101 million in the first quarter of 2014. It accounts for about 4% of Teva’s total Specialty Medicines revenue.
Published by Globes [online], Israel business news - www.globes-online.com - on June 22, 2014
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