The Federal Trade Commission (FTC) has notified Wyeth that it will not file an objection with the United States District Court for the district of New Jersey to the proposed settlement of the patent litigation between Wyeth and Teva Pharmaceutical Industries Ltd concerning Teva’s application to market an extended release venlafaxine capsule product.
Wyeth markets extended release venlafaxine under the trade name Effexor XR. Wyeth and Teva will now file motions with the court requesting that the court approve the settlement and enter related orders, claims a Wyeth release.
Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing, and marketing of pharmaceuticals, vaccines, biotechnology products and non-prescription medicines.