Gilead Sciences, Inc. (Nasdaq: GILD) today announced that Gilead and Teva Pharmaceuticals have reached an agreement in principle to settle the ongoing patent litigation concerning the patents protecting Viread® (tenofovir disoproxil fumarate), a treatment for HIV infection and chronic hepatitis B. Under the terms of the settlement, Teva will be allowed to launch a generic version of Viread on December 15, 2017.
“We believe strongly in the validity of our intellectual property,” said John Milligan, PhD, Gilead’s President and Chief Operating Officer. “This settlement, however, removes some uncertainty and minimizes further distraction and investment of human and financial resources associated with this litigation.”
The trial in this litigation, which was scheduled to begin on Wednesday, February 20 in the District Court for the Southern District of New York, has been adjourned pending completion of activities necessary to finalize the settlement.
About Gilead SciencesGilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company’s mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Asia Pacific. For more information on Gilead Sciences, please visit the company’s website at www.gilead.com , follow Gilead on Twitter ( @GileadSciences ) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV