Watson Pharm and GlaxoSmithKline settle lawsuit over Wellbutrin Xl

Co announces that it has reached a settlement with GlaxoSmithKline (GSK) on outstanding patent litigation related to Wellbutrin XL extended-release tablets 150mg. In December 2005, Andrx filed a patent infringement lawsuit in the U.S. District Court for the Southern District of Florida against GSK alleging that Glaxo's Wellbutrin XL 150mg product infringed Andrx's U.S. Patent 6,905,708. WPI acquired Andrx in November 2006. Under terms of the settlement, Andrx will receive a one-time payment of $35 mln, and has granted GSK a royalty-bearing license to the '708 Patent. Other terms of the settlement and license are confidential.