India's Sun Pharma settles Novartis lawsuit over leukemia drug

MUMBAI Wed May 14, 2014 11:37pm EDT

MUMBAI May 15 (Reuters) - Sun Pharmaceutical Industries Ltd said it was allowed to launch a generic version of Novartis' leukemia drug Gleevec in the United States on Feb. 1, 2016, under a settlement agreement between the two companies.

The other terms of the agreement are confidential, Sun Pharma said in a statement on Thursday.

Sun Pharma's subsidiary holds a tentative approval from the U.S Food and Drug Administration for a generic version of Gleevec. As per IMS data, Gleevec had annual sales of about $2 billion in the United States, Sun said. (Reporting by Aradhana Aravindan; Editing by Anupama Dwivedi)

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