By Denny Jacob
Axsome Therapeutics shares were up 14% in premarket trading after reaching a settlement with Teva Pharmaceuticals.
Shares were trading around $120.01. The stock is up 8.3% over the last year.
The commercial-stage biopharmaceutical company said the settlement resolves all patent litigation related to its Auvelity bupropion product. The litigation resulted after Teva submitted an abbreviated new drug application to the Food and Drug Administration seeking approval to market a generic version of Auvelity in the U.S. prior to the expiration of applicable patents.
Under the agreement, Axsome will grant Teva a license to sell its generic version of Auvelity beginning on or after March 31, 2039, if pediatric exclusivity is granted for Auvelity, or on or after Sept. 30, 2039, if no pediatric exclusivity is granted.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 10, 2025 08:43 ET (13:43 GMT)
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