Novo Nordisk and Teva reach US patent settlement
Danish diabetes care giant Novo Nordisk (NOV: N) and the US subsidiary of Israeli generics major Teva Pharmaceutical Industries (NYSE: TEVA) have reached a settlement agreement on the US patent litigation case for Victoza (liraglutide).
Consequently, Teva is licensed to launch a generic version of Victoza as of December 22, 2023. Shares of both companies edged up nearly 1% on the news released earlier today.
Victoza is Novo Nordisk’s best-selling product, with sales of 24.3 billion kroner ($3.69 billion) in 2018.
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