AstraZeneca settles Crestor lawsuit
The Local · 25 Mar 2013, 14:58
Published: 25 Mar 2013 14:58 GMT+01:00
AstraZeneca said in a statement that the deal would protect its sales of the anti-cholesterol drug until 2016.
"AstraZeneca today announced that it has entered into a settlement agreement in its US patent infringement litigation against Watson Laboratories, Inc., Actavis, Inc. (formerly known as Watson Pharmaceuticals, Inc.), and EGIS Pharmaceuticals," the company said.
Crestor generated $6.25 billion of sales in 2012, down from $6.6 billion in 2011 after losing patent protection in certain regions.
AstraZeneca's announcement comes after it last week said it was cutting 3,900 jobs - in a major restructuring of the group over the next three years.
The group currently employs about 57,000 staff worldwide.