Teva settles with Amgen on hyperparathyroidism drug

Teva Photo: ASAP Creative Shutterstock

The Israeli pharmaceutical giant will pay an undisclosed sum and halt sales of Cinacalcet until mid-2021.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has agreed a settlement over its generic version of Cinacalcet HCl with Amgen Inc., which develops and markets the branded drug. Cinacalcet hydrochloride treats secondary hyperparathyroidism in adults with chronic kidney disease on dialysis. Annual sales of the branded drug amount to $1.7 billion.

Teva has already launched its generic version but has agreed to stop marketing it until mid-2021 as part of the settlement. As part of the settlement, Teva will pay Amgen an undisclosed sum and this will end all legal proceedings on the matter.

Published by Globes, Israel business news - en.globes.co.il - on January 3, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Teva Photo: ASAP Creative Shutterstock
Teva Photo: ASAP Creative Shutterstock
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