Teva, Pfizer In Generics Pact

Leading generic drug company Teva and US R&D-based major Pfizer have agreed to settle all outstanding litigation regarding three top-selling compounds. The deal refers to cancer drug Idamycin (idarubicin), blockbuster antibiotic Zithromax (azithromycin) and Ellence (epirubicin), a drug used in chemotherapy. Teva will continue to market its formulations of idarubicin and azithromycin, but will pay Pfizer some US$70mn. The Israeli firm will also gain the right to sell a generic version of epirubicin before the patent's expiration in August 2007.

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