Astra Settles with Teva on Chron''s Disease Drug
May 18, 2010
AstraZeneca PLC says it has reached an agreement with Teva Pharmaceutical Industries Ltd. that will keep generic copies of the British drug maker''s Entocort EC drug for Chron''s disease out of the U.S. market until early 2012, according to the Associated Press. The deal announced Tuesday gives Teva a license to enter the U.S. market with its generic version of the capsules on Feb. 15, 2012, subject to regulatory approval. Financial terms of the settlement haven''t been disclosed. Merck & Co., which has a partnership with Astra in the U.S., is also part of the settlement. AstraZeneca earlier this year reached a similar deal with Teva over a patent challenge to its heartburn drug Nexium. In that case, Teva can bring a generic competitor to the market in May 2014.