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