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Daily Digit: $2.15 bln win for Pfizer

Wednesday, June 12, 2013 - 00:44

June 12 - Pfizer wins $2.15 billion settlement in long-running drug patent dispute. Conway G. Gittens reports.

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Your Daily Digit today is $2.15 billion. That's how much two pharmaceutical companies will pay Pfizer to settle a patent infringement lawsuit related to its acid-reflux drug Protonix. Japan's Takeda Pharmaceutical, Pfizer's partner on the drug, will receive more than thirty percent from the settlement. Israel-based Teva Pharmaceuticals, the world's largest generic drug maker, is shelling out $1.6 billion, and India's Sun Pharma is paying the rest. Teva started selling a generic version of the drug in 2007, but Pfizer won a 10-year battle over the rights of the drug two years ago. The monetary settlement -reached just days after a trial to determine the damages began on Monday.

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Daily Digit: $2.15 bln win for Pfizer

Wednesday, June 12, 2013 - 00:44