The present agreement releases Barr and Teva for all past and future activities in connection with the US marketing and sale of Teva’s and Barr’s generic fexofenadine tablets.
Under the terms of the agreement, Teva and Barr will each pay Aventis about $30 million. In addition, Teva and Barr will pay Aventis an undisclosed royalty on future US sales. Under a consent decree related to Sanofi, the agreement is subject to review by the Federal Trade Commission (FTC), which the parties expect will require up to 45 days to complete.
The parties may prevent the agreements from becoming effective or terminate the agreements if the FTC or state attorney generals raise objections that cannot be resolved by the parties.