UPDATE 1-Pozen settles migraine drug suit with Teva

Wed Apr 14, 2010 9:37am EDT

* Settles suit over generic version of Treximet

* Says litigation against other defendants to continue

* Pozen shares up 2 pct

April 14 (Reuters) - Pharmaceutical company Pozen Inc (POZN.O) settled a suit over its Treximet migraine drug with top generics maker Teva Pharmaceutical Industries Ltd (TEVA.TA), opening the door to settlements with other drugmakers.

Teva Pharmaceuticals USA had filed with the U.S. Food and Drug Administration, seeking marketing approval for a generic version of Treximet. Treximet is marketed by Pozen's U.S. licensee GlaxoSmithKline (GSK.L).

The settlement will conclude Pozen's litigation with Teva, but does not end the ongoing litigation against the other three defendants, Par Pharmaceutical Inc PRX.N, Alphapharm Pty Ltd, and Dr. Reddys Laboratories Inc (REDY.BO), Pozen said in a statement.

Teva will agree to be bound by the outcome of such litigation or any resulting settlements with third parties, Pozen said.

Shares of Pozen were up nearly 2 percent at $10.44 in morning trade Wednesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Vinu Pilakkott)

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