Teva and Pfizer settle $1 billion patent dispute

June 1, 2011 10:15


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Teva Pharmaceutical Industries reported last night that it had settled a patent lawsuit brought by Pfizer Inc. over a drug for treating seizures and pain caused by shingles.

The case has been dragging on for years, but yesterday Teva said that as a result of the settlement, the US District Court for the District of New Jersey dismissed the lawsuit, releasing Teva and its subsidiaries.

Teva did not disclose the terms of the financial settlement but it is believed that it was for less than $100 million.

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