REPOST: Teva, Sun Pharma to pay $2.15 bln to settle Pfizer patent suit

Teva Pharmaceuticals Industries Ltd and Sun Pharmaceutical Industries Ltd settles a lawsuit against Pfizer and Takeda Pharmaceutical Co Ltd, says this article.
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Pfizer Inc said Teva Pharmaceuticals Industries Ltd and Sun Pharmaceutical Industries Ltd would pay $2.15 billion to settle a patent infringement lawsuit related to its acid-reflux drug Protonix.

Japan's Takeda Pharmaceutical Co Ltd, Pfizer's partner on the drug, will receive 36 percent or about $774 million from the settlement.

Pfizer won a protracted 10-year legal battle in April 2010 when a New Jersey jury ruled that Teva had infringed the Protonix patent. Teva started selling a generic version of the drug in 2007.

A trial to determine damages began on Monday.

The patent was held by Nycomed - now a Takeda subsidiary. Protonix was licensed to Wyeth, which is now owned by Pfizer.

Israel-based Teva, the world's largest generic drugmaker, will pay $1.6 billion - half this year and the rest by October 2014. India's Sun Pharma will pay $550 million this year.

Teva said in February that it may face legal losses of up to $2.07 billion to resolve the case.

Sun Pharma set aside 5.84 billion rupees, or about $100 million, last November towards potential damages to Pfizer. The company will now have to shell out a further $450 million as final settlement.

"This is not a very positive out-of-court settlement. The agreed amount is way too high for such a settlement," said Daljeet Kohli, head of research at brokerage IndiaNivesh in Mumbai. "It will also restrict Sun's ability to look for acquisitions."

Pfizer's shares were up about 1 percent at $28.66 before the bell, while Teva's U.S.-listed shares were down about 1 percent at $39.51.

Sun Pharma closed little changed at 980.70 rupees, while Takeda's stock closed down 1.4 percent at 4,355 yen.

($1 = 58.4950 Indian rupees)

Evan Granowitz is a civil litigator who was named a Super Lawyers Rising Star in 2009, 2010, and 2011. Visit this website for more information about him and his practice areas.

Tips on Becoming a Lawyer

Do you want to become a lawyer? EHow.com shares some basic tips on how to become a lawyer.

If you want to become a lawyer, you may find that the process is overwhelming. The process of becoming an attorney is long and requires a great deal of paperwork and schooling. There are many things that you can do in order to ease the process and successfully become an attorney.

Do Well In School

• In order to become a lawyer, you must receive both a Bachelor's degree and a Juris Doctor degree. This means that you must attend an undergraduate school and law school. Doing well in school requires more than just being at the top of your class. It also requires that you take advantage of courses and opportunities that are available in school. You may get an undergraduate degree in any major that interests you, but consider taking classes in logic and writing. Writing is the most important aspect of being an attorney because attorneys spend significant time every day writing. A logic course is beneficial because a lawyer must use logical reasoning principles every day and will be helpful when you attend law school. Law school does not require students to choose a major, and much of the curriculum is left up to the students, so take classes that interest you and that you can apply yourself to do the best that you can. When you are in law school, you must be sure to take advantages of all opportunities that you can. Join clubs and societies that interest you in order to expose yourself to different areas of law and different view points concerning the law.

Take Advantage of Experiential Education

• Experiential learning is incredibly important for aspiring attorneys, however it is not as prevalent among law students as one would think. While in college, take advantage of internships that are available for credit. See if you can intern with a law firm. Not only will this give you a good idea of whether you would like to do this as a profession, but it will also allow you to observe and gain valuable insight that you can apply in your career. While in law school, take advantage of any clinics that are available and that interest you. Many law schools have clinical programs focusing on family law, tax law, criminal law, and employment law. These types of programs give you valuable practical experience that employers look to when considering potential employees.

Stay Positive and Remain Focused

• The process of becoming an attorney is long and it is easy to lose your focus. In order to go to law school you have to go to college, register for the Law School Admission Council and the Law School Admission Test. Remember that everything that you do has a purpose, and you are doing it so that you can become an attorney. Further, law school is difficult because it is a completely new experience and teaching method for most students. This becomes apparent in the first year of law school. Never forget why you are there and why you want to be an attorney. Do not become overly discouraged when things happen. Keep things in perspective, remember that lawyers do not win every case, motion, and appeal. Overcoming adversity is the way you persevere as a lawyer.

Complete All Paperwork Early

• There are many things you must do in order to become an attorney, and most if it requires considerable paperwork. You must apply to college and to law school. You must register for the Law School Admission Council and register to take the Law School Admission Test. You must sign up to take the Multistate Bar Examination, as well as the bar exam for your particular jurisdiction. These applications, particularly the bar exam application, take a considerable amount of time. For instance, for most bar exam applications, you must submit a great deal of information, including driving records and criminal background histories. It takes time to gather the information and you do not want to cut yourself short in doing this because it could cost you more money for filing late, or it could delay your ability to enter school or take the bar exam.

Take the Bar Exam Seriously

• The bar exam is not easy. The information necessary to pass the bar exam is voluminous and diverse. You must begin studying as early as practical, which is generally in the beginning of your second semester of your last year in law school. Sign up for a course that will help coach you on how to pass the bar exam and adhere as best as you can to its recommendations. Studying for the bar exam is a several month process and you have to take it seriously, but do not let it consume your life. Figure out the balance you need to preserve good mental health while learning as much as you can.

Source: http://www.ehow.com/list_6519879_tips-becoming-lawyer.html

What to expect from your lawyer

Many people do not have their own lawyers to represent them in court. Some only hire a legal representative when the need arises, hence many people do not know what to expect from an attorney-client relationship.

Lawyers owe certain duties to their client. Such duties include the duty of confidentiality, duty to avoid conflicts of interest, duty to represent the client, and duty to provide competent representation.

The duty of confidentiality simply means that lawyers ought to keep everything that have transpired and will transpire between his or her client a secret. Information about the client’s affairs must be confidential and must not be used by other people unauthorized by the client.

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To avoid conflict of interest, an attorney must see to it that the clients he represents do not conflict with the interests of each other. This, however, does not mean that a lawyer cannot represent someone whose business is in competition with the other client. Avoiding conflict means that if a lawyer negotiates a lease for Client X, he cannot represent Client Y who wants the same space.

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Representing the client means that lawyers should always represent the interests and point of view of their clients. But it does not mean that they can condone fraudulent actions.

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Last but not the least, lawyers should provide competent representation. They should make the client aware if they have the experience and expertise to represent the latter. If not, the lawyers should refer an attorney who could best represent the client.

More about Evan Granowitz and other related topics are available on Myspace.