Teva Pharmaceuticals has reached settlements in two massive lawsuits.
In the first, Abbott settled patent litigation over its cholesterol drug TriCor, which will see Teva being able to sell its 145-milligram version of TriCor in early 2011, when the main patent expires.
In the second, Shire Pharmaceuticals settled a lawsuit with Teva over its supply of an authorised generic version of attention deficit hyperactivity disorder drug Adderall XR. Shire has been supplying Teva with the generic since 1 April 2009, but the company’s ability to supply the product had been limited by restrictions on the supply of amphetamine by the US Drug Enforcement Administration. Teva claimed this breached the supply contract.
Teva has now dismissed its lawsuit, including its claims for monetary damages, specific performance and other equitable relief. No consideration was exchanged by the parties as part of the settlement.
