BioDelivery Sciences Reaches Settlement with Teva Pharmaceutical


By Addison Lalier, NC BIZ News

BioDelivery Sciences International Inc. has settled a lawsuit that accused Teva Pharmaceutical Industries Ltd. of violating its patents, according to a filing with the Securities and Exchange Commission.

The settlement ends BioDelivery’s patent litigation against Teva regarding Bunavail, a medication for the treatment of opioid dependence.

BioDelivery Sciences is a specialty pharmaceutical company focused on pain management and addiction medicine. The company’s products address serious conditions, including: cancer pain, chronic pain and opioid dependence.

According to BioDelivery, Teva’s generic form of Bunavail, pursuant to U.S. Food and Drug Administration approval, infringed upon several U.S. patents owned by BioDelivery Sciences.

As part of the settlement, the company has entered into a non-exclusive license agreement with Teva that permits Teva to begin selling its generic version of Bunavail in the U.S. in 2028. Other terms of the agreement remain confidential.

The settlement is subject to review by the U.S. Federal Trade Commission and the U.S. Department of Justice.

BioDelivery shares closed Thursday at $2.92, up 0.85 percent.

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.