January 25, 2011 / 1:42 PM / 9 years ago

UPDATE 1-Mylan settles with Pfizer on generic Caduet

* Mylan may start marketing Caduet on Nov. 30 or earlier

* Says all pending litigation will be dismissed

Jan 25 (Reuters) - Mylan Inc (MYL.O) said it settled a U.S. patent dispute with Pfizer Inc (PFE.N) which will enable it to sell the generic version of Pfizer’s drug Caduet for treating high blood pressure and high cholesterol.

Under the settlement, pending litigation will be dismissed and Mylan can market and sell a generic version of Caduet on Nov. 30, or earlier under certain circumstances, Mylan said.

The company did not disclose any additional details on the settlement amount.

According to IMS Health, Caduet raked in $389 million in U.S. sales for the twelve months ending Sept. 30, Mylan said.

In February last year, Pfizer sued Mylan challenging its marketing application to make a generic version of Caduet. [ID:nWNAB3330]

Shares of Mylan closed at $23.52 on Monday on Nasdaq. Pfizer shares closed at $18.45 on Monday on the New York Stock Exchange. (Reporting by Anand Basu in Bangalore; Editing by Roshni Menon)

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