Workers of Teva Pharmaceutical Industries stand at the entrance to their facility in Ashdod, Israel December 17, 2017. REUTERS/Amir Cohen
(Reuters) – Teva Pharmaceutical Industries Ltd (TEVA.TA) said on Thursday it will pay an undisclosed amount to settle an ongoing dispute with Amgen Inc (AMGN.O) over its generic Cinacalcet HCl product.
The Israel-based drugmaker has also agreed to stop selling the generic product until its license date in mid-year 2021, or earlier under certain circumstances reut.rs/2BUnEad.
Teva said it recently received approval for the generic product and launched it in the United States.
Cinacalcet hydrochloride is approved for the treatment of secondary hyperparathyroidism in adults with chronic kidney disease on dialysis and for the treatment of higher levels of calcium in adults with parathyroid carcinoma.
Reporting by Bhanu Pratap in Bengaluru; Editing by Gopakumar Warrier