Wednesday, August 30, 2006

Teva Too Zeroed Down to Patent Settlement

Following Endo and Purdue settlement move, Teva too settled its pending patent litigation with Purdue over the Oxycodon extended-release tablets, marketed as OxyContin. Under the deal, Teva has agreed to stop selling its generic OxyContin at an undisclosed future date. And in exchange, Purdue has agreed not to pursue damages against Teva for past infringement of Purdue’s patents. This lawsuit was pending in the U.S. District Court for the Southern District of New York.

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