Actavis settles Celebrex patent challenge with Pfizer

24 April 2014

Ireland-headquartered generic major Actavis (NYSE: ACT) has entered into an agreement with US pharma giant Pfizer (NYSE: PFE) to settle all outstanding patent litigation related to Actavis' generic version of Celebrex (celecoxib) capsules.

Under the terms of the agreement, Pfizer will grant Actavis a license to market its generic Celebrex beginning in December 2014, or earlier under certain circumstances. Other details of the settlement were not disclosed.

Launch of Actavis' product is contingent on the company receiving final approval from the US Food and Drug Administration for its Abbreviated New Drug Application for a generic version of Celebrex.

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