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)