Bioscience

Medicis shares soar after legal settlement with Teva

March 19, 2009

By Flinn Foundation

[Source: Newsfeedresearcher] – Medicis Pharmaceuticals Corp., of Scottsdale, Ariz., and Teva Pharmaceutical Industries Ltd., of Jerusalem, said they agreed to terminate all legal disputes between them relating to Solodyn (minocycline HCl) extended-release tablets. Teva confirmed that Medicis’ patents relating to the drug are enforceable and agreed to stop all further shipments of generic Solodyn, while Medicis agreed to release Teva from liability arising from any prior sales of the generic version.

Teva has the option to market generic Solodyn beginning in November 2011.

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