Teva and Pfizer settle patent litigation over Celebrex
Israel-based Teva Pharmaceutical Industries (NYSE: TEV) says that its US subsidiary has settled a law suit with US pharma giant Pfizer (NYSE: PFE) related to Teva’s generic version of the blockbuster pain killer/arthritis drug Celebrex (celecoxib) 50mg, 100mg, 200mg and 400mg capsules in the USA.
Under the terms of the settlement, Teva, the world’s largest generics firm, may launch its generic versions in December 2014, or earlier under certain circumstances. Teva has received tentative approval from the US Food and Drug Administration for all strengths and believes that it is first-to-file on at least the dose formulations specified.
Pfizer sued several generic drugmakers, including Mylan Inc and Actavis, which are also seeking FDA approval to sell their generic versions of Celebrex. Sales of Celebrex were $2.2 billion in the USA, according to IMS data as of December, 2013 quoted by Teva.
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