Biotech Values

[DewDiligence]

TEVA, PFE settle US Viagra-patent litigation:

http://www.sec.gov/Archives/edgar/data/818686/000130901413000841/exhibit1.htm

Under the terms of the agreement Teva will be able to launch its Abbreviated New Drug Application (ANDA) products pursuant to a royalty-bearing license on December 11, 2017, or earlier under certain circumstances. The terms of the settlement agreement are otherwise confidential.

The phrase, “earlier under certain circumstances” means that if a company other than Teva launches a generic version of Viagra in the US before 12/11/17 (either as a result of a settlement or a court judgment), then Teva can launch on the same date as the other company. This is a strandard provision in these kinds of patent settlements.

The agreed launch date for Teva (12/11/17) is 2.3 years before the expiration of patent #6,469,012, PFE’s last Orange Book patent on Viagra (http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=6469012.PN.&OS=PN/6469012&RS=PN/6469012 ), a “use” patent that
held up in US District Court (#msg-66176474, #msg-66190222) but might not have withstood scrutiny at the appellate level.