Pfizer to receive US$2.15b in damages

June 13, 2013

PFIZER has announced a massive settlement with generic manufacturers Teva and Sun Pharmaceutical, who will pay it US$2.15 billion to settle a patent infringement case. The agreement covers the launches of generic Protonix (pantoprazole) in the USA, and will compensate Pfizer for losses incurred when Teva and Sun launched generic versions of the medication before its patent expired in January 2011. Teva will pay $1.6 billion and Sun will pay $550 million, after a court ruling that the generic versions of the proton pump inhibitor infringed a Takeda patent which is licensed to Pfizer’s Wyeth business in the US. According to Pfizer the settlement deal was reached just before the commencement of a trial to determine damages. Teva launched its generic Protonix in Dec 2007, while Sun’s version came out in Jan 2008. Pfizer said that sales of Protonix dropped almost 60% to $806m in 2008 after the generic releases.

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Pharmacy Daily | Pfizer to receive US$2.15b in damages

Pfizer to receive US$2.15b in damages

Other recent headlines

MDR’s results surpass expectations

Call to restructure CSO

Camden takes top spot

SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES