FOSTER CITY, Calif.--(BUSINESS WIRE)--Feb. 19, 2013--
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 Sciences
Gilead 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.
Source: Gilead Sciences, Inc.
Gilead Sciences, Inc.Patrick O’Brien, 650-522-1936 (Investors)Amy
Flood, 650-522-5643 (Media)
