11:12 AM EDT, 10/17/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Amicus Therapeutics' ( FOLD ) shares were up over 12% in recent trading Thursday after the company said it agreed to settle its patent litigation against Teva Pharmaceuticals (TEVA).

Amicus said it agreed to grant Teva a license to market its generic version of Galafold in the US starting in early 2037, as part of the settlement.

Amicus previously filed a complaint relating to Teva's abbreviated new drug application to market its generic version of Galafold prior to the expiration of the applicable patents.

Price: 11.81, Change: +1.31, Percent Change: +12.43