Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Generic drug maker Teva Pharmaceuticals has entered into an agreement with Purdue Pharma to end a lawsuit concerning Purdue Pharma patents on OxyContin tablets.
Subscribe to our email newsletter
Under the terms of the settlement, Teva will stop selling its oxycodone products that contravene the OxyContin patent and Purdue Pharma will not pursue damages against Teva for past infringement. The settlement agreement is subject to review by the US antitrust agencies and the US District Court for the Southern District of New York.
“Because of today’s agreement, we no longer have to wait for a trial, and possible appeals, in order to secure the result provided in the agreement. We have avoided the risks, uncertainty and costs of continued litigation,” said Michael Friedman, President and CEO of Purdue Pharma.
Purdue Pharma has also taken measures to protect its OxyContin patents against other infringements and has filed against oxycodone products sold by another pharma company, Endo Pharmaceuticals.
Purdue Pharma and its associated US companies are privately-held pharmaceutical companies known for pioneering research on persistent pain.