Gilead, Teva reach settlement in Viread patent lawsuit
Feb 19 (Reuters) - Gilead Sciences Inc said it has agreed with Israel's Teva Pharmaceuticals Industries Ltd to settle a lawsuit relating to patents protecting Viread, a treatment for HIV infection and chronic hepatitis B.
As per the agreement, Gilead said Teva will be allowed to launch a generic version of Viread on Dec. 15, 2017.
"This settlement removes some uncertainty and minimizes further distraction and investment of human and financial resources associated with this litigation," Gilead's chief operating officer, John Milligan, said in a statement late on Tuesday.
Gilead, based in California, is the world's largest maker of branded drugs to treat the human immunodeficiency virus, the cause of AIDS.
The trial in the lawsuit, which was scheduled to begin on Feb. 20 in a Manhattan court, has been adjourned to finalize the settlement, Gilead said.
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video