Ironwood Pharmaceuticals and Allergan reached a settlement with Teva over Teva's abbreviated new drug application for a generic version of Linzess, a drug for irritable bowel syndrome with constipation.
What you should know:
1. Teva sought approval to market a generic version of Linzess, also known as linaclotide, before Ironwood and Allergan's patents expired.
2. Ironwood and Allergan granted Teva permission to market a 145 mcg and a 290 mcg generic version of Linzess in the U.S. effective March 31, 2029. However, Teva will not be allowed to market a 72 mcg version of Linzess.
3. The lawsuit between the companies will be dismissed if the settlement is approved by the Federal Trade Commission and Department of Justice.