Purdue Signs Consent Judgment with Teva

Purdue Pharma and Teva Pharmaceutical signed a consent judgment in the U.S. District Court for the Southern District of New York, with Teva admitting that Purdue’s OxyContin patents are valid, enforceable and infringed by Teva’s extended-release oxycodone products, and thereby ending a patent infringement dispute. Earlier on August 29, 2006 Purdue and Teva announced their agreement to terminate the litigation subject to certain contingencies, including review by the United States antitrust agencies and the United States District Court for the Southern District of New York. The agreement permits Teva to continue sales of generic version of OxyContin at least through March 31, 2007.