Amphastar Pharmaceuticals (NASDAQ:AMPH)
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6 Months : From Apr 2019 to Oct 2019
By Colin Kellaher
Amphastar Pharmaceuticals Inc. (AMPH) Wednesday said it will receive nearly $60 million from Momenta Pharmaceuticals Inc. (MNTA) and a unit of Novartis AG (NVS) after the companies agreed to settle their long-running litigation related to generic versions of the blood-thinner Lovenox.
Amphastar, a Rancho Cucamonga, Calif., specialty pharmaceutical company, said Novartis' Sandoz and Momenta will pay $59.9 million by July 2 as part of the settlement, under which the companies will dismiss all pending litigation.
Momenta and its partner Sandoz filed a patent-infringement suit against Amphastar in 2011, seeking more than $900 million in damages, after the U.S. Food and Drug Administration approved Amphastar's generic version of Sanofi's (SNY) Lovenox. Amphastar later countered with an antitrust suit against Momenta and Sandoz.
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(END) Dow Jones Newswires
June 19, 2019 07:37 ET (11:37 GMT)
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