Teva Pharmaceuticals, based in Jerusalem, has settled patent litigation with London-based AstraZeneca Pharmaceuticals over the drug Byetta.
Byetta, AstraZeneca's brand name drug, is an injectible prescription medicine that helps regulate blood sugar for individuals with type 2 diabetes.
Teva has entered a settlement and licensure agreement with AstraZeneca, which enables it to manufacture and commercialize a generic version of the drug. Teva hopes to release its generic version of Byetta into the U.S. market in October 2017.
Terms of the agreement were not released.
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