Israel-based Teva also will pay approximately $100 million to Native American tribes and pay attorneys fees incurred by the states, local governments and tribes.
Aurobindo will have a licence to sell its Austedo generic product beginning April 2033
The approval late on Tuesday by the U.S. Food and Drug Administration came earlier than both companies had expected. It was issued a day after the health regulator said it would introduce measures to speed to market generic versions of complex drugs like Copaxone to help address the rising cost of pharmaceuticals.
All generic pharmaceutical companies across the world and those involved in the distribution of generic drugs in the USA have seen their market value eroding sharply.
Hyderabad-based active ingredient maker Neuland Laboratories declined to comment on any link between the company's steep rise in share price and Teva getting a priority review status for its experimental drug SD-809.
Analysts believe that Neuland Labs is a supplier of API (active pharma ingredient) to Teva for this drug, which is used in the therapy of Huntington Disease, a disorder related to tardive dyskinesia. If the new drug application is accepted, Neuland will be a key beneficiary.
Lupin got approvals to launch a generic of Glumetza last year and enjoyed a 180-day period of exclusive sales. Both Sun and Israeli major Teva also got the regulatory nod but did not launch citing technical reasons.
"The United States District Court for the District of Delaware issued a decision finding all asserted claims of four Orange Book-listed patents related to Copaxone 40 mg/mL invalid based on obviousness," Natco Pharma said in a BSE filing.
The two men are in talks with the government about a plea agreement, according to a source close to the negotiations who was not authorized to discuss the matter.
Aurobindo Pharma has inked a pact to acquire select commercial products in France from Teva for an undisclosed amount.
Pharma stocks, especially which have large exposure to United States, saw knee-jerk reaction on Friday after a media report indicated that US prosecutors are undertaking an investigation into the suspected price collusion.
Ahmedabad based Intas Pharma which is a closely held company buys Tava's European assets for USD 764 million in an all cash deal. CNBC-TV18's Nisha Poddar spoke with Binish Chudgar, MD of Intas Pharma.
Intas is looking at more acquisitions in US and Europe to strengthen its three main areas of operations - oral solid tablet, oncology, and differentiated patent products, the company's MD Binish Chudgar said.
Ahmedabad drugmaker Intas Pharmaceuticals has pipped Aurobindo Pharma in buying global giant Teva's European assets. Intas is buying Teva's European assets for USD 764 million in an all-cash deal.
Indian pharmaceutical companies Aurobindo and Intas are among the final contenders for Teva‘s generic drug business in UK. The strategy will help the companies expand their European business.
Nuvaring is the largest of the eight products that Dr Reddy's has bought from Teva in June 2016. DRL acquired a portfolio of eight abbreviated new drug applications (ANDAs) in the US for USD 350 million as part of the divestment process in Teva's acquisition of Allergan's generic business.
Dr Reddy's Laboratories today said it has successfully completed the USD 350 million (around Rs 2,300 crore) acquisition of eight abbreviated new drug applications (ANDAs) in the US from Teva Pharmaceutical Industries and an affiliate of Allergan plc.
Shetty says that she has her doubts on a possible revival of revenues saying that the eight drugs bought from Teva for the US market, will take till 2019 to affect Dr Reddy's revenues.
"Two ANDAs have been acquired by 100 percent subsidiary, Zydus Worldwide DMCC and the transaction will be financed through the group's internal accruals," the Ahmedabad-based healthcare company in its filing.
Drug firm Aurobindo Pharma has received final approval from the US health regulator to manufacture and market its oral contraceptive, Levonorgestrel tablets.
Nexium (used to treat certain stomach and esophagus problem) & Pulmicort (used to prevent asthma attacks) supply may boost company's export formulation business during the quarter. Hence, export formulation business may grow around 35-40 percent year-on-year.
In Q1FY15, other income declined 41 percent to Rs 40.39 crore, which impacted bottomline as well. The pharma company will announce its earnings on August 14.
The pharma space has been in focus post Sun Pharma-Daiichi deal and the likelihood of a possible merger between Teva and Mylan globally. In an interview to CNBC-TV18, Abhishek Sharma of IIFL discusses his outlook on the sector and on specific companies.
Pharma Analyst, Abhishek Sharma of IIFL spoke with Ekta Batra & Anuj Singhal of CNBC-TV18. He shared his reading and outlook on the pharmaceutical space.
Natco Pharma has been buzzing for the sixth consecutive day on Friday following approvals to launch hepatitis drug in India & Nepal as well as US court's decision on Tamiflu drug. The stock rallied 10 percent intraday to hit a new high of Rs 2,264.