PITTSBURGH, Jan. 25 /PRNewswire-FirstCall/ -- Mylan Inc. (NYSE: MYL) today announced that it intends to appeal a Jan. 24, 2008 decision by the U.S. District Court for the District of Columbia against Mylan and its co- defendants Cambrex Corporation and Gyma Laboratories in the last of the pending Lorazepam and Clorazepate antitrust cases. The first related suit had been filed in 1998.
As previously disclosed, in June 2005, a jury in the district court had rendered a verdict against Mylan and its co-defendants. The parties subsequently filed various post-trial motions, and the January 24 decision resolved several of those motions. The district court ordered Mylan to pay $35,906,922. The court also ordered Cambrex and Gyma to pay $16,709,242 each, some or all of which may be subject to indemnification obligations by Mylan. Plaintiffs' motion for attorneys' fees remains pending.
Mylan intends to immediately appeal the decision and will continue to vigorously defend itself in the litigation.
Mylan Inc. is one of the world's leading quality generic and specialty pharmaceutical companies. The Company offers one of the industry's broadest and highest quality product portfolios, a robust product pipeline and a global commercial footprint through operations in more than 90 countries. Through its controlling interest in Matrix Laboratories Limited, Mylan has direct access to one of the largest active pharmaceutical ingredient (API) manufacturers in the world. Dey, L.P., Mylan's fully integrated specialty business, provides the Company with innovative and diversified opportunities in the respiratory and allergy therapeutic areas.
For more information about Mylan, please visit http://www.mylan.com
|SOURCE Mylan Inc.|
Copyright©2008 PR Newswire.
All rights reserved