Exelixis settles patent litigation with Teva; generic CABOMETYX license begins Jan 1, 2031

EXELIXIS, INC.

Settlement and License Agreement with Teva resolves patent litigation over generic CABOMETYX (cabozantinib).
Teva may market generic cabozantinib from January 1, 2031, if FDA approved and subject to standard conditions.
All pending Hatch-Waxman litigation between Exelixis and Teva in Delaware will be dismissed.
Agreement is confidential and subject to review by FTC and DOJ.
Expected to protect CABOMETYX exclusivity in the U.S. until at least January 1, 2031.

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