Teva announces settlement agreements with AstraZeneca

JERUSALEM Teva announced Thursday that it has entered into two definitive agreements with AstraZeneca to settle patent litigation regarding Teva’s U.S. generic versions of AstraZeneca’s Prilosec (omeprazole) and Nexium (esomeprazole), including all claims for patent infringement and damages.

Under the terms of the omeprazole agreement, Teva will obtain a release for all past sales of its generic omeprazole and will continue to market its product in the United States and will make a one-time payment to AstraZeneca.

As part of the esomeprazole agreement, AstraZeneca has granted Teva a license, subject to regulatory approval, to enter the U.S. market with its generic esomeprazole delayed-release capsules on May 27, 2014, or earlier in certain circumstances. Additional details were not disclosed.

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