Teva and Wyeth settle Effexor XR litigation

By Angela McDaniels

Seattle, Oct. 18 - Teva Pharmaceutical Industries Ltd. and Wyeth said they have agreed on the principal terms of a settlement of the U.S. patent infringement litigation concerning Teva's generic version of Wyeth's Effexor XR antidepressant.

The parties are currently drafting definitive agreements and will submit them to the Federal Trade Commission. The terms of the settlement are confidential and are subject to a number of conditions, including FTC review and the approval of the U.S. District Court for the District of New Jersey.

Teva Pharmaceutical Industries Ltd. is headquartered in Netanya, Israel, and develops, manufactures and markets original and generic pharmaceuticals and active pharmaceutical ingredients.

Wyeth is based in Madison, N.J, and develops, manufactures and markets pharmaceuticals, vaccines, biotechnology products and nonprescription medicines.

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