Shire Plc (SHP) has come up with a settlement with generic-drug giant Teva Pharmaceutical Industries Ltd. (TEVA), allowing the later to produce a cheap generic copies of Intuniv, a drug used to treat individuals suffering from ADHD (Attention Deficit Hyperactivity Disorder).

Teva finally gets a license to sell a copied version of the Intuniv after the company was sued by the Dublin-based Shire for an allegedly infringing two patents of the drug.

According to a statement released by Shire on May 31, Teva's license is set to take effect only after Activic Inc. has consummated the allotted six-month period to sell its generic version of the drug starting in December of 2014.

The patent settlement has yet to be confirmed in court papers, but Shire stressed that it has already filed the agreements between the two generic drug makers - Teva and Activis - to the Federal Trade Commission for further review.