Sun Pharma Announces Settlement of Litigation Over Generic ExelonMUMBAI, India, Dec. 6, 2007-Sun Pharmaceutical Industries Ltd. announced that it has executed a settlement agreement with Novartis stipulating a dismissal of the lawsuits filed in the United States against the Company regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Exelon, rivastigmine tartrate capsules.
Earlier, USFDA had granted final approval for the Company's ANDA to market its generic ExelonÂ®.
Under the terms of the settlement agreement, Sun Pharma will not market generic ExelonÂ® in the U.S. until sometime prior to the expiration of the patents covering ExelonÂ®. The specific date on which Sun may launch and the other terms of the agreement are confidential.
Exelon Â® is a registered trademark of Novartis.
About Sun Pharma
Established in 1983, listed since 1994 and headquartered in India, Sun Pharma (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) is an international, integrated, speciality pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world. In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, diabetology, gastroenterology, and orthopedics. The company has strong skills in product development, process chemistry, and manufacturing of complex API, as well as dosage forms. More information about the company can be found at www.sunpharma.com.
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Posted: December 2007