Teva Settles Patent Litigation With Pfizer - Quick Facts

(RTTNews) - Teva Pharmaceuticals USA, Inc., a subsidiary of Teva Pharmaceutical Industries Ltd. (TEVA) Tuesday said it has settled a patent litigation with Pfizer Inc. (PFE), relating to Teva's generic version of Pfizer's Viagra tablets.

Under the terms of the agreement, Teva can now launch its Abbreviated New Drug Application products pursuant to a royalty-bearing license on December 11, 2017, or earlier under certain circumstances.

Teva's generic version of Pfizer's Viagra was previously granted tentative approval by the U.S. Food and Drug Administration. Viagra had annual sales of approximately $1.2 billion in the U.S, based on IMS sales data as of September 2013.