The lawsuit was a holdover from Teva's acquisition of Ivax.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has settled a patent infringement over a type 2 diabetes treatment suit filed by Depomed Inc. (Nasdaq: DEPO) against Ivax Corp. Teva will pay Depomed $7.5 million plus up to $2.5 million in royalties.
Ivax will keep non-exclusive licensing rights, allowing it to continue marketing its generic version of Glucophage in the US.
Depomed sued Ivax for infringing two patents in January 2006. Teva acquired Ivax for $7.4 billion shortly afterwards.
Teva fell 0.7% on Nasdaq to $45.84 yesterday and a fell further 0.9% in after-hours trading.
Published by Globes [online], Israel business news - www.globes-online.com - on April 9, 2008
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