Pfizer gets $2.15 billion settlement
Drugmaker has settled a patent lawsuit with Teva and Sun Pharmaceutical Industries
Pfizer has settled a $2.15 billion settlement lawsuit with Teva and Sun Pharmaceuticals. Photo: Bloomberg
Pfizer will receive 64 per cent of the settlement while partner Takeda Pharmaceutical will get the rest, New York-based Pfizer said in a statement today.
Teva’s American depositary receipts fell 3 per cent to $38.94 at 7.58am in New York trading.
The drugmaker had gained 2.6 per cent in the past 12 months before today. Pfizer rose less than 1 per cent to $28.65.