Pfizer settles patent lawsuit with Teva, Sun Pharma for $2.15 billion

REUTERS - Pfizer Inc said it reached a $2.15 billion settlement with Teva Pharmaceuticals Industries Ltd and Sun Pharmaceutical Industries Ltd related to patent infringement on its acid-reflux drug Protonix.

Japan's Takeda Pharmaceutical Co Ltd <4502.T>, Pfizer's partner, will receive 36 percent or about $774 million from the settlement.

Israel-based Teva will pay $800 million in 2013 and the remaining $800 million by October 2014. India's Sun Pharma will make its entire payment of $550 million in 2013. (Reporting by Pallavi Ail in Bangalore,)