"Bloomberg": Teva has agreed not to sell Truvada and Viread, made by Gilead Sciences, until June or a ruling by the judge in the patent-infringement lawsuit.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is delaying the launch of generic versions of two blockbuster drugs for treatment of HIV. "Bloomberg" reports that Teva reached an agreement with Gilead Sciences Inc. (Nasdaq:GILD), the maker of the brand drugs, Truvada and Viread, not to sell its generic versions until June 2013 or a ruling by the judge who is set to hear the patent-infringement lawsuit filed by Gilead Sciences against Teva.
Truvada had $2.9 billion in sales in 2011 and Viread had $738 million in sales.
California-based Gilead sued Teva in 2008 and again in 2010, claiming that Teva’s applications to the US Food and Drug Administration to make drugs to treat HIV infections in adults infringed four of its patents. The complaints also listed the HIV drug Atripla, which wasn’t cited in today’s filing. Teva argues that Gilead's patents were invalid and could not be infringed. Judge Richard Sullivan of the US District Court for the Southern District of New York is due to begin hearing the non-jury case on February 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on November 28, 2012
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