Lupin Settles Antidepressant Drug Litigation With Wyeth
May 11 2009 - 4:38AM
Dow Jones News
India's Lupin Ltd. (500257.BY), which makes generic drugs,
Monday said it has settled all ongoing litigation relating to
Venlafaxine extended release capsules.
Venlafaxine is Lupin's version of Wyeth's (WYE) antidepressant
Effexor XR capsules.
According to the settlement, Lupin will be free to launch its
generic product on or after June 1, 2011, or earlier in certain
limited circumstances, the company said in a statement. However,
the launch can't be earlier than Jan. 1, 2011, it said.
Wyeth's Effexor XR capsules had U.S. sales of $3.01 billion in
2008, Lupin said, citing data from market research firm IMS
Health.
The company didn't provide financial details of the
settlement.
-By Rumman Ahmed, Dow Jones Newswires; 91-9845104173;
rumman.ahmed@dowjones.com