Mylan (MYL), Pfizer (PFE) Enter Settlement with Teva Over Generic Epinephrine Auto-Injector

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Mylan Inc. (Nasdaq: MYL) and Pfizer Inc. (NYSE: PFE) today announced that Meridian Medical Technologies, a Pfizer subsidiary, has entered into a settlement agreement with Teva (Nasdaq: TEVA) that will resolve pending patent litigation related to its abbreviated new drug application (ANDA) for a generic epinephrine auto-injector.

According to the terms of the settlement, Teva may launch a generic epinephrine auto-injector covered by its ANDA on June 22, 2015 or earlier under certain circumstances, subject to receipt of approval from the U.S. Food and Drug Administration. Teva currently does not have tentative approval from the FDA for its epinephrine auto-injector product.

Meridian manufactures EpiPen Auto-Injector and Mylan Specialty markets and distributes the product in the United States.

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