Forest Laboratories, Inc. Announces Additional Settlement Agreements in BYSTOLIC® Patent Litigation
November 28 2012 - 4:05PM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX) and Forest Laboratories
Holdings, Ltd. (collectively,“Forest”) announced today that they
have entered into settlement agreements with Alkem Laboratories,
Ltd. ("Alkem"), Indchemie Health Specialties Pvt. Ltd.
("Indchemie"), and Torrent Pharmaceuticals Ltd. and Torrent Pharma
Inc. (collectively, "Torrent") in patent infringement litigation
brought by Forest in response to abbreviated new drug applications
(ANDAs) filed by Alkem, Indchemie and Torrent each seeking approval
to market generic versions of Forest’s BYSTOLIC® (nebivolol)
tablets. These settlement agreements are in addition to the
previously announced Bystolic patent infringement settlement
agreement with Hetero Labs Ltd.
Specifically, under the terms of the settlement agreements and
subject to review of the settlement terms by the U.S. Federal Trade
Commission, Forest will provide licenses to each of Alkem,
Indchemie and Torrent that will permit these companies to launch
their generic versions of BYSTOLIC® as of the date that is the
later of (a) three calendar months prior to the expiration of U.S.
Patent No. 6,545,040, including any extensions and/or pediatric
exclusivities or (b) the date each company receives final FDA
approval of its ANDA, or earlier in certain circumstances.
Similar patent infringement litigation brought by Forest against
Amerigen Pharmaceuticals Ltd., Glenmark Generics Inc., Watson
Pharmaceuticals Inc., and related companies and subsidiaries
thereof, remains pending in a multidistrict litigation established
in the U.S. District Court for the Northern District of
Illinois.
About Forest
Laboratories
Forest Laboratories, Inc. (NYSE: FRX) is a U.S.-based
pharmaceutical company with a long track record of building
partnerships and developing and marketing products that make a
positive difference in people’s lives. In addition to its
well-established franchises in therapeutic areas of the central
nervous and cardiovascular systems, Forest’s current pipeline
includes product candidates in all stages of development and across
a wide range of therapeutic areas. The Company is headquartered in
New York, NY. To learn more about Forest Laboratories, visit
www.FRX.com.
Except for the historical information contained herein, this
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
statements involve a number of risks and uncertainties, including
the difficulty of predicting FDA approvals, the acceptance and
demand for new pharmaceutical products, the impact of competitive
products and pricing, the timely development and launch of new
products, and the risk factors listed from time to time in Forest
Laboratories’ Annual Report on Form 10-K, Quarterly Report on Form
10-Q, and any subsequent SEC filings. Forest assumes no obligation
to update forward-looking statements contained in this release to
reflect new information or future events or developments.
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