The U.S. Anti-Doping Agency said late Thursday it will strip famed cyclist Lance Armstrong of his titles and ban him from competitive cycling.

The USADA made its announcement after Armstrong said he would stop fighting the agency's doping charges, following a U.S. federal court decision to dismiss his lawsuit against the agency. Armstrong won an unprecedented seven Tour de France titles from 1999-2005.

The cyclist said there is “zero physical evidence” to support the doping allegations. He said he had made himself available for testing “around the clock and around the world.”

The USADA maintains that Armstrong has used banned performance-enhancing substances for years.

The 40-year-old Armstrong, who retired last year, has been a hero to many for overcoming testicular cancer and for his foundation's support for cancer research.