Forest Laboratories, Inc. Announces Additional Settlement Agreement in BYSTOLIC® Patent Litigation
January 03 2013 - 8:00AM
Business Wire
Forest Laboratories, Inc. (NYSE: FRX) and Forest Laboratories
Holdings, Ltd. (collectively, "Forest") announced today that they
have entered into a settlement agreement with Glenmark Generics
Inc., USA, Glenmark Generics Ltd., and Glenmark Pharmaceuticals
Ltd. (collectively, "Glenmark") in patent infringement litigation
brought by Forest in response to Glenmark's abbreviated new drug
application (ANDA) seeking approval to market generic versions of
Forest's BYSTOLIC® (nebivolol) tablets. This settlement agreement
is in addition to the previously announced BYSTOLIC® patent
infringement settlement agreements with Hetero Labs Ltd., Alkem
Laboratories, Ltd., Indchemie Health Specialties Pvt. Ltd., and
Torrent Pharmaceuticals Ltd.
Specifically, under the terms of the settlement agreement and
subject to review of the settlement terms by the U.S. Federal Trade
Commission, Forest will provide a license to Glenmark that will
permit it to launch its 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 Glenmark receives
final FDA approval of its ANDA, or earlier in certain
circumstances. Similar patent infringement litigation brought by
Forest against Amerigen Pharmaceuticals Ltd. and 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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