Pfizer, Teva settle lawsuits

Pfizer and generic drug giant Teva Pharmaceuticals have come to an agreement over three drugs, ending two lawsuits over Pfizer's cancer drug Idamycin and antibiotic Zithromax. "Under the settlement, Teva will pay Pfizer $70 million and agrees not to contest the validity of the respective drug's patents. Teva will be able to continue selling its generic version of Idamycin and Zithromax." Teva also gains the right to manufacture and market a generic version of another Pfizer cancer drug, Ellence.

- read this Ynetnews article for more on the settlement
- check out Teva's press release on the agreement