• 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.

Stocks

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)

Stocks


More from Reuters

Photo

Democrats reach deal on health bill

WASHINGTON (Reuters) - Senate Democratic healthcare negotiators said they agreed on Tuesday to replace a government-run insurance option with a scaled-back non-profit plan and would seek cost estimates on the deal.

» More Top News
File photo of snow covered Uhuru peak of the largest free-standing volcano in the world, Mount Kilimanjaro in Tanzania, taken on March 10, 2006. REUTERS/Neil Wallace
Postcards to Copenhagen:

Wish we weren't here

Mount Kilimanjaro's melting snow cap is one of many things forever altered by climate change. Here's a snapshot of a world dealing with environmental destruction.   Full Article 

Climate conference
People prepare to lower the body of one of the ministers killed in a blast from a suicide bomber last Thursday at Shamo Hotel in Somali's capital Mogadishu December 4, 2009. REUTERS/Feisal Omar
witness:

Scenes of a "slaughterhouse"

War is just about the only story to tell in Somalia. But when one reporter tried to cover an event reflecting positive change, violence reared its ugly head again.  Full Article 

World