NEW YORK — Pfizer will receive more than $2 billion from Teva Pharmaceutical Industries and Sun Pharmaceutical Industries to settle a case concerning a gastroesophageal reflux disease drug.
The drug maker said Wednesday that Sun and Teva had agreed to pay $2.15 billion in a patent-infringement suit over the drug Protonix (pantoprazole). The money will compensate Pfizer and Takeda for damages they incurred when Teva and Sun launched "at-risk" generic versions of Protonix in 2007 before the 2011 expiration of a patent covering the drug. Teva will pay $1.6 billion, and Sun will pay $550 million; Pfizer will receive 64% of proceeds.
A federal jury in New Jersey determined that the launches violated U.S. Patent No. 4,758,576, owned by Takeda and licensed to Wyeth, which Pfizer acquired in 2009.
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