TEVA SETTLES PATENT CHALLENGE OF GSK DRUGS

Teva Pharmaceutical IndustriesLtd has resolved itspatent dispute with GlaxoSmithKline (GSK) via a settlement that will allow the Israel-basedgeneric drug maker to enter the US market with itsgeneric versions of 3 GSK diabetes drugs: Avandia (rosiglitazonemaleate), Avandamet (rosiglitazone maleate and metforminHCl), and Avandaryl (rosiglitazone maleate andglimepiride) oral tablets. Although details of the settlementwere held confidential by both parties, it was disclosed thatTeva could begin US marketing of the GSK drugs late in thefirst quarter of 2012. GSK filed several lawsuits challengingTeva?s plans to market generic versions of its drugs, and atrial in federal court had been scheduled to begin in August.