Gilead, Teva reach settlement in Viread patent lawsuit
(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 December 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 February 20 in a Manhattan court, has been adjourned to finalize the settlement, Gilead said.
(Reporting by Sakthi Prasad in Bangalore; Editing by Matt Driskill)
- Sierra Leone's chief Ebola doctor contracts the virus
- Gaza bloodshed deepens as airlines shun Israel |
- Exclusive: Ukraine rebel commander acknowledges fighters had BUK missile
- TransAsia Airways plane crashes in typhoon-hit Taiwan, killing 47 |
- South Korea ferry fugitive hid behind cabin wall, bags of cash at hand
Robert Blendon of the Harvard School of Public Health says the Affordable Care Act's unpopularity in 12 key states will keep it a central issue in the 2014 elections. Video