AstraZeneca (LSE: AZN) settled its patent litigation with Teva Pharmaceutical Industries (NASDAQ: TEVA) in respect of Teva's proposed generic version of AstraZeneca's Nexium delayed-release capsules (esomeprazole magnesium). The US generic drug-maker conceded that all patents-at-issue in Teva's US Nexium patent litigations are valid and enforceable.
As part of the agreement, AstraZeneca granted Teva a license to enter the US market with its generic esomeprazole on 27 May 2014.
Teva also conceded that six Nexium patents would be infringed by the manufacture or sale of its generic esomeprazole. The US District Court for the District of New Jersey will enter a Consent Judgment and corresponding Nexium patent litigations will be dismissed.
Nexium is used to treat stomach ulcers and stomach acid reflux, esomeprazole is a proton pump inhibitor, which reduces the production of stomach acid.
Additionally In a separate agreement, AstraZeneca and Teva settled patent litigation relating to heartburn treatment Prilosec (omeprazole), whereby Teva will make a one-time payment to AstraZeneca for past infringements. However the terms of this agreement are not financially material to AstraZeneca. http://www.proactiveinvestors.co.uk/companies/news/11903/astrazeneca-settles-nexium-and-prilosec-patent-litigation-with-teva-pharmaceutical-11903.html
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