Singapore: Biopharmaceutical companies Gilead Sciences and Teva Pharmaceuticals have decided to settle the ongoing patent litigation concerning the patents protecting Viread (tenofovir disoproxil fumarate), a treatment for HIV infection and chronic hepatitis B. Under the terms of the settlement, Teva will be allowed to launch a generic version of Viread on December 15, 2017.

"We believe strongly in the validity of our intellectual property," said Dr John Milligan, Gilead's president and CEO. "This settlement, however, removes some uncertainty and minimizes further distraction and investment of human and financial resources associated with this litigation."

The trial in the litigation, which was scheduled to begin on February 20, 2013, in the District Court for the Southern District of New York, has been adjourned pending completion of activities necessary to finalize the settlement.