$PFE and Takeda Reach a Settlement $TEVA and Sun Pharmaceutical For Generic Patent Infringement

“Pfizer Inc. PFE +0.18% and Takeda Pharmaceutical Co. 4502.TO -1.36% have reached a $2.15 billion settlement with Teva Pharmaceutical Industries Ltd.TEVA -0.43% and Sun Pharmaceutical Industries Ltd. 524715.BY -0.17% for patent-infringement damages resulting from their launches of generic Protonix in the U.S.

The settlement comes after a nearly 10-year legal battle in which Pfizer and Nycomed—now part of Takeda—sought to enforce the patent for the blockbuster acid reflux medicine.

Pfizer will get 64% of the settlement’s proceeds, while Takeda will get the remainder….”

Full article