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Actavis Inc Announces OxyContin Patent Challenge Settlement


Friday, 26 Apr 2013 09:28am EDT 

Actavis Inc announced that it has entered into an agreement with Purdue Pharma to settle all outstanding patent litigation related to Actavis' generic version of the currently marketed abuse-deterrent formulation of OxyContin. Under the terms of the agreement, Actavis will be licensed to market a specified number of bottles of its generic OxyContin beginning on January 1, 2014. Launch of Actavis' product is contingent upon the Company receiving final approval from the U.S. Food and Drug Administration (FDA) on its Abbreviated New Drug Application (ANDA) for generic OxyContin. Alternatively, if Actavis is unable to gain FDA approval of its generic OxyContin prior to September 1, 2014, the Company will be permitted to launch a specified number of bottles of an authorized generic version of Purdue's abuse-deterrent product beginning in October 2014. Other terms of the settlement were not disclosed. 

Company Quote

237.09
-1.67 -0.70%
17 Sep 2014