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Monday, November 30, 2009
Abbott Settles Tricor Dispute with Teva Pharmaceuticals
By Darryl R. Isherwood
FOXBusiness
Abbott Laboratories Inc. (ABT) has settled its U.S. patent dispute with Teva Pharmaceuticals (TEVA) over Abbott's triglyceride drug, Tricor, paving the way for a generic version.
The settlement involves the 145 milligram dose of Tricor which makes up the bulk of Tricor sales. The suit allows Teva to launch a generic version of the blockbuster drug no sooner than March 28, 2011, and if certain conditions are met, not until July 1, 2012.
Tricor and a newer version called Trillipix totaled $919 million in sales through September.
Shares of Abbott gained 0.8% to $54.49, while Teva eased 0.2% to $52.79.
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