logo
Plus   Neg
Share
Email

Teva Pharmaceutical Posting Strong Gain After Resolving Dispute With Amgen

Shares of Teva Pharmaceutical Industries Ltd. (TEVA) have shown a strong move to the upside during the trading session on Thursday, with the generic drug maker surging up by 5.2 percent.

The jump by Teva comes after the company announced it has resolved its ongoing dispute with Amgen (AMGN) over its generic cinacalcet HCl product.

Under the terms of the settlement, patent infringement litigation between the companies will be ended and Teva has agreed to stop selling its generic product until its license date in mid-year 2021, or earlier under certain circumstances.

Teva will pay Amgen an undisclosed amount as part of the settlement. That amount and other terms of the settlement remain confidential.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lawyers for the state of Oklahoma urged a judge on Monday to hold Johnson & Johnson (JNJ) responsible for the country's opioid epidemic. Oklahoma Attorney General Mike Hunter, in his closing arguments of the eight-week trial in Cleveland County, called the pharmaceutical company the "Kingpin" behind... Pizza chain Blaze Pizza has announced plans to offer a keto-diet-approved pizza crust, which will only have 6 grams of carbs. The pizza chain will swap flour for ingredients like flaxseeds, eggs, and cheese to offer the first-ever official keto-diet approved pizza. "As the first national chain... Even as Amazon.com Inc. kicked off its Prime Day annual shopping event on Monday, employees are expressing their dissatisfaction with the company. This year's Prime Day, Amazon's biggest celebration of deals, kick-started officially on Monday with more than one million offers for Prime Members in select countries around the world. The 48-hour extravaganza is the longest Prime Day ever.
Follow RTT