• Most Popular
  • Most Shared

UPDATE 1-GeoPharma settles patent suit for generic Clarinex

Tue Jan 20, 2009 7:47am EST

Stocks

   

Jan 20 (Reuters) - Generics company GeoPharma Inc (GORX.O) said it has settled a patent suit with Schering-Plough Corp SGP.N and Sepracor Inc SEPR.O relating to its generic version of allergy drug Clarinex.

Under the settlement, GeoPharma can commercially launch its generic product, with 6 months marketing co-exclusivity, on July 1, 2012, or earlier in certain circumstances.

The new product launch may be a prescription or over-the-counter product depending on its status at the time of launch, GeoPharma said in a statement.

Financial terms of the settlement were not disclosed.

Schering-Plough reported $176 million in global sales of Clarinex for the third quarter.

In December, Schering settled suits related to Clarinex with generic firms Dr Reddys Laboratories Ltd (REDY.BO) and Lupin Ltd (LUPN.BO).

Shares of GeoPharma closed at 65 cents Friday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Anil D'Silva)



More from Reuters

Photo

Rajaratnam pleads innocent in Galleon case

NEW YORK (Reuters) - Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi asserted their innocence on Monday to charges of securities fraud, in what U.S. prosecutors describe as the biggest hedge fund insider trading case ever.

» More Top News
Demonstrators protest against the healthcare bill outside the Capitol in Washington December 15, 2009. REUTERS/Kevin Lamarque

Health bill passes crucial test

A sweeping U.S. healthcare reform bill appears headed for passage in the Senate after surviving a middle-of-the-night test vote.  Full Article | Video 

Healthcare Reform
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review