Teva wins $175M settlement after jury orders Eli Lilly to pay up on patent infringement suit
Just one month after the news that Teva and Eli Lilly were going to duke it out in federal court, a jury has now come to a conclusion.
And that conclusion will cost Eli Lilly more than $175 million.
A jury verdict in Massachusetts district court was handed down Wednesday between the Big Pharma and the generics giant. Per the verdict sheet, Eli Lilly has to pay Teva a combined $176.5 million on three types of damages: $90 million in past lost profits; $36.74 million in what the jury deemed was a reasonable royalty fine at a 5% rate; and $49.8 million to be paid in future lost profits.
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