Actavis settles OxyContin lawsuit with Purdue
Post# of 2146
Posted On: 05/01/2013 9:55:16 PM
Actavis settles OxyContin lawsuit with Purdue
(Reuters) - Generic drugmaker Actavis Inc said it had settled a patent lawsuit with Purdue Pharma related to Actavis' generic version of the abuse-deterrent formulation of Purdue's painkiller OxyContin.
Under the agreement, Actavis will be licensed to market a specified number of bottles of its generic OxyContin beginning January 1, 2014.
Actavis expects the agreement to represent more than $100 million in combined gross profit in 2014 and 2015, but the other terms of the settlement were not disclosed.
If Actavis is unable to get U.S. regulatory approval for its generic OxyContin prior to September 1, 2014, it will be permitted to launch a specified number of bottles of an authorized generic version of Purdue's abuse-deterrent product beginning in October 2014.
~~The Food and Drug Administration will not approve generic versions of OxyContin that can be crushed easily into a powder for snorting or altered and be put into an injection, federal officials announced April 16.
~~Purdue Pharma files suit to protect OxyContin patents
(Reuters) - Generic drugmaker Actavis Inc said it had settled a patent lawsuit with Purdue Pharma related to Actavis' generic version of the abuse-deterrent formulation of Purdue's painkiller OxyContin.
Under the agreement, Actavis will be licensed to market a specified number of bottles of its generic OxyContin beginning January 1, 2014.
Actavis expects the agreement to represent more than $100 million in combined gross profit in 2014 and 2015, but the other terms of the settlement were not disclosed.
If Actavis is unable to get U.S. regulatory approval for its generic OxyContin prior to September 1, 2014, it will be permitted to launch a specified number of bottles of an authorized generic version of Purdue's abuse-deterrent product beginning in October 2014.
~~The Food and Drug Administration will not approve generic versions of OxyContin that can be crushed easily into a powder for snorting or altered and be put into an injection, federal officials announced April 16.
~~Purdue Pharma files suit to protect OxyContin patents
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