Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has settled the patent infringement suit filed by Novartis over Teva's generic version of Lotrel, a treatment for high blood pressure. The company did not disclose the terms of the settlement.
Teva made an at-risk launch of generic Lotrel in 2007. Novartis claimed that its patents were valid through 2017.
Following the settlement, the US District Court for the District of New Jersey dismissed the case.
Earlier this month, Teva settled a patent infringement case with Amgen Inc. (AMGN: Nasdaq) over an alleged patent infringement of two cancer treatment drugs for patients undergoing chemotherapy.
Teva's share price fell 0.3% on Nasdaq on Friday to $47.76, giving a market cap of $44.9 billion, and fell 0.2% by mid-afternoon on the TASE today to NIS 162.10.
Published by Globes [online], Israel business news - www.globes-online.com - on July 24, 2011
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