NEW YORK, Nov. 21 /PRNewswire-FirstCall/ -- Pfizer announced today that
it has reached a comprehensive agreement with generic drug manufacturer
Teva that resolves two separate lawsuits alleging patent infringement of
Pfizer's cancer medication, Idamycin, and its antibiotic, Zithromax. As
part of the settlement, Teva will pay up to $70 million to Pfizer, which
includes an option in 2007 for Teva to sell its own generic version of
epirubicin, another cancer medication, prior to the August 2007 patent
expiry. In addition, Teva will not contest the validity of the patents.
The agreement will end litigation by Pfizer against Teva and Sicor, a
company owned by Teva, over Sicor's sales of idarubicin (the active
ingredient in Idamycin) and Teva's sale of azithromycin (the active
ingredient in Zithromax). Under the agreement Sicor will be able to
continue to market idarubicin, which it launched prior to patent expiry in
September 2002, and Teva can continue to sell its generic version of
Zithromax.
SOURCE Pfizer Inc
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