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|August 29, 2006 1:57 p.m.|
|Teva Announces Settlement Of Oxycontin® Litigation|
Jerusalem, Israel, August 29, 2006 - Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that it has signed an agreement with The Purdue Frederick Company and certain of its affiliates to settle patent infringement litigation pertaining to Teva's generic version of Purdue's OxyContin® (oxycodone HCl extended-release) Tablets pending in the United States District Court for the Southern District of New York. The agreement, which involves a full release of Teva, as well as its distributors, purchasers, and patients, and which calls for Teva to cease selling its oxycodone products at a future date upon certain contingencies, will be submitted to the U.S. Federal Trade Commission ("FTC") and the Antitrust Division of the Department of Justice as required by law. Except as described, the terms of the settlement are confidential and are subject to a review by the above federal agencies and the approval of the District Court.