Israeli drugmaker Teva Pharmaceutical Industries Ltd. said Monday that it has settled patent infringement litigation over Nuvigil and will allow rival generic drugmaker Mylan Inc. to sell generic versions of the sleep-disorder drug.
The deal allows Mylan to start selling three doses of Nuvigil in June 2016 or possibly earlier depending on certain circumstances not mentioned in brief statements from both companies. Mylan, based in Canonsburg, Pa., expects to have six months of marketing exclusivity on the generic doses of 50, 150 and 250 milligrams.
Nuvigil treats tiredness in adults caused by sleep apnea, narcolepsy, or changes in work schedule. Teva acquired the drug's rights when it purchased U.S. drugmaker Cephalon Inc. in a $6.8 billion deal that closed last fall.
Shares of Mylan fell 8 cents to $22 in morning trading Monday while broader trading indexes also dropped slightly. U.S.-traded shares of Teva advanced 8 cents to $45.71.
