Global healthcare company Novo Nordisk A/S (CPH:NOVOB) announced on Monday that it has reached a settlement with Teva Pharmaceuticals USA Inc (Teva) on the US patent litigation case for Victoza (liraglutide).

As a result of this settlement, Teva is licensed to launch a generic version of Victoza as of 22 December 2023.

Under certain circumstances, Teva could launch a generic version of Victoza earlier, but not before 22 March 2023, unless the Victoza patents are no longer in force or there is another generic version of Victoza® on the market.

In the event that Novo Nordisk is granted six months paediatric extension for Victoza, all these above-mentioned timelines will be extended by six months.

All other terms of the agreement are confidential.

This agreement is subject to review by the US Federal Trade Commission and the US Department of Justice.