Medicis and Teva sign settlement agreement

Medicis, a specialty pharmaceutical company, and Teva Pharmaceutical Industries, a generic pharmaceutical company, have agreed to terminate all legal disputes between them relating to Solodyn extended release tablets.

Pursuant to an agreement entered into between the parties, Teva has confirmed that Medicis’s patents relating to Solodyn are valid and enforceable, and cover Teva’s activities relating to its generic product under abbreviated new drug application #65-485.
As part of the settlement, Teva has agreed to immediately stop all further shipments of generic Solodyn. Medicis has agreed to release Teva from liability arising from any prior sales of its generic Solodyn, which were not authorized by Medicis.

Under the terms of the settlement agreement, Teva has the option to market its generic versions of Solodyn 45mg, 90mg and 135mg under the Solodyn intellectual property rights belonging to Medicis commencing in November 2011, or earlier under certain conditions. Additional terms were not disclosed.

Teva Pharmaceutical, a pharmaceutical company focused on global generic pharmaceutical market. The Company develops, manufactures and markets generic and innovative human pharmaceuticals and pharmaceutical ingredients, also animal health pharmaceutical products.

Medicis is a specialty pharmaceutical company focusing on the treatment of dermatological and aesthetic conditions.