Generic drug company Impax Laboratories Inc said it agreed to settle a lawsuit with French drugmaker Sanofi SA regarding the production and sale of the generic versions of two kidney disease drugs.
According to the terms of the settlement, Sanofi unit Genzyme agreed to grant Impax a license to sell a generic version of Renvela tablets by March 16, 2014.
Genzyme also agreed to license Impax to sell generic Renagel by September 16, 2014.
The two drugs had net sales of $392 million in the first half of 2012, Impax said in a statement.
Impax shares closed at $23.67 on Friday on the Nasdaq.
(Reporting by Esha Dey in Bangalore; Editing by Don Sebastian)