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$2.15 Bln Win For Pfizer

posted 12 Jun 2013, 10:49 by Mpelembe   [ updated 12 Jun 2013, 10:50 ]


Reuters Business Report - Your Daily Digit today is $2.15 billion.

That's how much two pharmaceutical companies will pay Pfizer to settle a patent infringement lawsuit related to its acid-reflux drug Protonix.

Japan's Takeda Pharmaceutical, Pfizer's partner on the drug, will receive more than thirty percent from the settlement.

Israel-based Teva Pharmaceuticals, the world's largest generic drug maker, is shelling out $1.6 billion, and India's Sun Pharma is paying the rest.

Teva started selling a generic version of the drug in 2007, but Pfizer won a 10-year battle over the rights of the drug two years ago.

The monetary settlement -reached just days after a trial to determine the damages began on Monday.