Sun to pay $550m to Pfizer, Takeda

India's largest drug maker by market capitalization Sun Pharma on Wednesday said that it will pay Pfizer and Japanese drug maker Takeda $550 million jointly to settle a patent infringement suit in the US on generic pantoprazole, an anti-acidity medicine. This is part of $2.15 billion damages which Israeli drug maker Teva and Sun Pharma will pay jointly to settle a lawsuit related to acid-reflux drug Protonix to Pfizer and Takeda Pharmaceutical. Takeda, Pfizer's partner on the drug, will receive 36%, or about $774 million from the settlement.

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