Sun Pharmaceutical, Teva, Pfizer, Takeda gastrointestinal news
Teva and Sun will pay $2.2 billion to Pfizer and Takeda to settle litigation related to the validity of a patent owned by Takeda's Nycomed company covering gastrointestinal drug Protonix pantoprazole. Sun and Teva admitted that their sales in the U.S. of generic versions of Protonix prior to the January 2011 expiration of U.S. Patent No. 4,758,579 infringed the patent, which is owned by Takeda and licensed to Wyeth, now part of Pfizer. Teva will pay Pfizer and Takeda $1.6 billion, and Sun will pay $550 million. Teva will pay $800 million in 2013 and the remaining $800 million by October 2014. Sun will make its payment this year. Pfizer and Takeda will divide the proceeds, with Pfizer receiving 64% and Takeda receiving 36%. Pfizer did not disclose Protonix sales in 2012. ...