Pfizer Reaches $2.15 Billion Protonix Accord With Teva
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Teva Pharmaceutical Industries Ltd. and Sun Pharmaceutical Industries Ltd. will pay $2.15 billion to Pfizer Inc. and a partner to settle litigation over unauthorized sales of the heartburn drug Protonix.
Pfizer, the world’s largest drugmaker, will receive 64 percent of the settlement while partner Takeda Pharmaceutical Co. will get the rest, New York-based Pfizer said in a statement today. Teva will pay $1.6 billion, including $800 million this year and the rest in 2014, according to a company statement. Sun said it will pay $550 million.