Healthcare Industry News: Glaxo
News Release - October 10, 2006
Dr. Reddy's Announces Settlement of Imitrex(R) Litigation with GlaxoSmithKlineHYDERABAD, India--(HSMN NewsFeed)--Dr. Reddy's Laboratories (NYSE:RDY ) announced today that it has settled patent litigation with GlaxoSmithKline relating to sumatriptan succinate tablets, the generic version of GlaxoSmithKline's Imitrex® tablets.
The terms of the settlement, which remain subject to government review, provide that Dr. Reddy's may exclusively distribute an authorized generic version of sumatriptan succinate tablets (in the 25 mg, 50 mg and 100 mg strengths) in the United States with an expected launch date late in the fourth quarter of calendar year 2008 ahead of the expiration of the pediatric exclusivity on 5037845 patent on February 06, 2009.
Additional terms of the settlement agreement were not disclosed.
GlaxoSmithKline's Imitrex® tablets, which are indicated for the acute treatment of migraine attacks in adults, had U.S. sales of $890 million for the 12 month period ending June, 2006 according to IMS.
About Dr. Reddy's
Established in 1984, Dr. Reddy's Laboratories (NYSE:RDY ) is an emerging global pharmaceutical company with proven research capabilities. The Company is vertically integrated with a presence across the pharmaceutical value chain. It produces finished dosage forms, active pharmaceutical ingredients and biotechnology products and markets them globally, with focus on India, US, Europe and Russia. The Company conducts research in the areas of diabetes, cardiovascular, anti-infectives, inflammation and oncology.
This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.
Source: Dr. Reddy's Laboratories
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