Teva and Pfizer settle over Neurontin; France drops Champix; Actavis' Aricept generic cleared

1 June 2011

Israeli generics giant Teva Pharmaceutical Industries (Nasdaq: TEVA) announced yesterday that patent litigation with global drugs behemoth Pfizer (NYSE: PFE) related to generic versions of Pfizer’s Neurontin (gabapentin) capsules and tablets sold by Teva and its subsidiary IVAX Pharmaceuticals has been dismissed by the US District Court for the District of New Jersey pursuant to a settlement between the parties, which provides for a full release of Teva and its subsidiaries. The financial terms of the settlement are confidential.

Pfizer was seeking compensation for infringements on a patent that does not expire till 2017, noted Bloomberg, pointing out that the drug giant's sales of the drug plummeted to $150 million in 2005 from $2.5 billion in 2004 because of the low-cost competition. Pfizer shares closed up 2.5% at $21.45 yesterday.

Champix reimbursement stopped in France

French Health Minister Xavier Bertrand said on Tuesday that Pfizer's smoking-cessation drug Champix (varenicline) will be removed from a register of treatments for which users are reimbursed from state social security funds

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