Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today announced a settlement with the Federal Trade Commission (FTC) that will resolve all outstanding litigation between the parties. Under the terms of the settlement, which is subject to court approval, the FTC will dismiss its claims against Teva and its affiliates in three outstanding cases, and the parties will modify certain terms in their 2015 consent decree. Teva will not pay any additional money to the FTC as part of this settlement.
"We are very pleased to put these litigations against the FTC behind us," said Brendan O’Grady, EVP and Head of North America Commercial at Teva. "We also appreciate the FTC's willingness to modify our consent decree to eliminate certain administrative burdens that will make it easier for us to navigate the patent issues that are critical to our business."
Originally entered in 2015 in FTC v. Cephalon, Inc., the consent decree provides clear guidance on the types of patent litigation settlements that are appropriate from the FTC’s perspective. This clarity helps Teva manage the complex antitrust and other related issues inherent in the pharmaceutical business environment. The three outstanding cases that will be dismissed against Teva and its affiliates as a part of the settlement are FTC v. AbbVie Inc., Nos. 18-2621, 18-2748, 18-2758 (3d Cir.); FTC v. Actavis, Inc., Civ. Action No. 09-955 (N.D. Ga.); and FTC v. Allergan PLC, Civ. Action No. 17-00312 (N.D. Cal.).
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global leader in generic medicines, with innovative treatments in select areas, including CNS, pain and respiratory. We deliver high-quality generic products and medicines in nearly every therapeutic area to address unmet patient needs. We have an established presence in generics, specialty, OTC and API, building on more than a century-old legacy, with a fully integrated R&D function, strong operational base and global infrastructure and scale. We strive to act in a socially and environmentally responsible way. Headquartered in Israel, with production and research facilities around the globe, we employ 45,000 professionals, committed to improving the lives of millions of patients. Learn more at www.tevapharm.com.
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