Teva wins first date to market generic Linzess in the USA
Israel-based Teva Pharmaceutical Industries (NYSE: TEVA) looks set to become the first company to launch a generic version of irritable bowel syndrome drug Linzess (linaclotide) as a result of a patent litigation settlement, sending the firm’s shares 2.95% higher to 3,592 shekels.
Teva has reached a deal with Ironwood Pharmaceuticals (Nasdaq: IRWD) and Allergan (NYSE: AGN) to market generic versions of 145mcg and 290mcg Linzess prior to the expiration of the companies’ applicable patents. This settlement with Teva is the last of the remaining defendants in this patent infringement litigation with respect to Linzess. This settlement does not grant any license to Teva with regard to its 72mcg generic version of Linzess. No financial terms were disclosed.
In the first nine months of 2019, net US sales of Linzess reached $572 million.
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