Teva and AstraZeneca reach patent settlement on Byetta
The US subsidiary of Israeli generics major Teva Pharmaceutical Industries (NYSE: TEVA) has reach a patent settlement agreement with AstraZeneca (LSE: AZN), its subsidiaries and Amylin Pharmaceuticals relating to the Anglo-Swedish pharma major’s patents on Byetta (exenatide).
Under the terms of the settlement, often referred to as a “pay-for-delay deal,” AstraZeneca granted a license to Teva to manufacture and commercialize the generic version of Byetta described in Teva’s Abbreviated New Drug Application (ANDA) No 205984 in the USA.
The settlement, financial details of which were not disclosed, allows Teva to commercialize its generic version of Byetta (exenatide injection)in the USA beginning October 15, 2017 or earlier under certain circumstances. All other terms of the agreement are confidential.
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