UPDATE 2-AstraZeneca settles with Teva on generic Entocort
* Teva can sell generic version of Crohn's drug in 2012 * Other terms of settlement agreement not disclosed
* Entocort EC global sales about $100 million in 2009 * Astrazeneca shares flat
(Adds sales figure, shares)
LONDON, May 18 (Reuters) - AstraZeneca (AZN.L) has settled a U.S. patent dispute with Teva Pharmaceuticals (TEVA.TA) by allowing Teva to sell a generic version of Astra's Entocort EC drug for Crohn's disease from 2012.
Teva has received a licence to enter the U.S. market with its generic version of the capsules, which contain the active ingredient budesonide, on Feb. 15, 2012, subject to regulatory approval, or earlier in certain circumstances.
Other terms of the settlement were not disclosed, but Astra said on Tuesday Teva had conceded that patents protecting Entocort EC were valid and enforceable.
The settlement is a small positive for Astra, although Entocort EC is not a major seller with global sales last year of around $100 million, equivalent to about 0.3 percent of the group revenue.
AstraZeneca shares were flat, in line with an broadly unchanged European healthcare sector .SXDP by 0800 GMT.
Merck (MRK.N), which has had a longstanding relationship with Astra entitling it to a royalty on U.S. sales of certain Astra drugs, has also entered into the settlement agreement. (Reporting by Ben Hirschler; Editing by Erica Billingham and Dan Lalor)
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Record cold, ice grip U.S.; more snow to blanket East
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'