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|March 05, 2007 1:28 p.m.|
|Teva Announces Agreement With Biovail And Anchen Regarding Generic Wellbutrin XL®|
Jerusalem, Israel, March 5, 2007 - Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that it has reached an agreement with Biovail Corporation regarding Bupropion Hydrochloride Extended-Release Tablets ("Bupropion HCl ER tablets"), the generic version of the antidepressant Wellbutrin XL® Tablets, for the United States market. The agreement, following U.S. Federal Trade Commission review, resolves litigation between Teva's supplier of the 300 mg product, IMPAX Laboratories, Inc. (NASDAQ:IPXL) and Biovail involving a patent which expires in 2018. The agreement also releases both Teva and IMPAX for past sales of that product, launched by Teva on December 15, 2006 (annual brand sales in the U.S. were approximately $972 million at the time of launch based on IMS data) in collaboration with IMPAX and Anchen Pharmaceuticals, Inc. Teva will continue to market generic Bupropion HCl ER tablets, 300 mg, on an exclusive basis for 6 months from launch and non-exclusively thereafter.