Navigation Links
Caraco Pharmaceutical Laboratories, Ltd. Closes Asset Purchase Agreement with Forest Laboratories, Inc. to Settle Lexapro(R) (escitalopram oxalate) ANDA Patent Litigation

DETROIT, Oct. 2 /PRNewswire-FirstCall/ -- Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announced that, as part of the previously announced settlement of the legal proceedings related to Lexapro® (escitalopram oxalate) tablets, it closed an Asset Purchase Agreement ("APA") transaction with Forest Laboratories, Inc. ("Forest") to acquire several products from Forest's Inwood line of business. The ANDA patent litigation settlement resolves litigation involving Caraco, Forest, Forest Holdings, Ltd., and H. Lundbeck A/S and Sun Pharmaceutical Industries Limited ("Sun"). Caraco is a subsidiary of Sun.

As previously disclosed, among other things, with respect to Caraco, the litigation settlement involves the following:

  1. Forest has agreed to provide licenses to Caraco for any patents related to Lexapro® with respect to the marketing of Caraco's generic version of the product as of the date that any third party generic enters the market with final approval from the FDA other than an authorized generic or the first filer with Hatch-Waxman related exclusivity.
  2. Forest has reimbursed Caraco for a portion of its attorney's fees related to this litigation.
  3. Pursuant to the APA, Caraco is taking over the commercialization and sale of several products from Forest's Inwood business. Caraco has paid Forest an advance against royalties and will pay royalties on net sales of these products.

Detroit-based Caraco Pharmaceutical Laboratories, Ltd., develops, manufactures, markets and distributes generic and private-label pharmaceuticals to the nation's largest wholesalers, distributors, drugstore chains and managed care providers.

Safe Harbor: This news release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are contained in the Corporation's filings with the Securities and Exchange Commission and include, but are not limited to: information of a preliminary nature that may be subject to adjustment, potentially not obtaining or delay in obtaining FDA approval for new products, governmental restrictions on the sale of certain products, development by competitors of new or superior products or less expensive products or new technology for the production of products, the entry into the market of new competitors, market and customer acceptance and demand for new pharmaceutical products, availability of raw materials, timing and success of product development and launches, dependence on a few products generating a majority of sales, product liability claims for which the Company may be inadequately insured, and other risks identified in this report and from time to time in our periodic reports and registration statements. These forward-looking statements represent our judgment as of the date of this report. We disclaim, however, any intent or obligation to update our forward-looking statements.

SOURCE Caraco Pharmaceutical Laboratories, Ltd.

SOURCE Caraco Pharmaceutical Laboratories, Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Caraco Pharmaceutical Laboratories, Ltd. Enters Into Consent Decree with FDA Providing Path to Resume Manufacturing Operations
2. Alexza Pharmaceuticals to Present at the Fourth Annual JMP Securities Healthcare Focus Conference
3. Biostar Pharmaceuticals, Inc. Receives Patent for Aoxing Ganbao
4. Intercept Pharmaceuticals FXR Agonist INT-747 Meets Primary Endpoint in a Phase II Clinical Trial in Type 2 Diabetic Patients with Nonalcoholic Fatty Liver Disease
5. Catalyst Pharmaceutical Partners, Inc. To Raise $3.97 Million In Registered Direct Offering
6. Merriman Curhan Ford Acted as Financial Advisor to TorreyPines Therapeutics, Inc. in the Completed Merger With Raptor Pharmaceuticals Corp.
7. Raptor Pharmaceutical Expands Board of Directors
8. Sanofi-aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM-121, an Anti-ErbB3 Monoclonal Antibody
9. Fovea Pharmaceuticals to be Acquired by sanofi-aventis
10. Catalyst Pharmaceutical Partners Continues Clinical Development of CPP-109 For The Treatment of Cocaine and Methamphetamine Addiction
11. Sagent Pharmaceuticals Launches Vinorelbine Injection, USP
Post Your Comments:
(Date:12/1/2015)... , Dec. 1, 2015  Athletic apparel ... founder have agreed to pay $1.35 million to ... advertised the company,s copper-infused compression clothing would relieve ... arthritis and other diseases. Tommie ... requires the company and its founder and chairman ...
(Date:12/1/2015)... , Dec. 1, 2015 Assurex Health, ... GeneSight® Psychotropic test giving healthcare providers an expanded range ... for patients suffering from depression, anxiety, bipolar disorder, ... health conditions. i .   ... With the addition of two new drug ...
(Date:12/1/2015)... Calif. , Dec. 1, 2015 ... products and services, announced today that it has been ... services organization. Members served by Novation will have access ... devices, sports bracing products and soft goods dedicated to ... --> The aging U.S. population, rising prevalence ...
Breaking Medicine Technology:
(Date:12/1/2015)... , ... December 01, 2015 , ... ... has announced its acquisition by Jordan Industries International, LLC (“JII”). , With support ... equipment rentals and maintenance services to hospitals, surgery centers, clinics, research labs and ...
(Date:12/1/2015)... ... December 01, 2015 , ... According to an article published ... discrimination claim against the U.S. Department of Health and Human Services, claiming that any ... plans are breaking the clause in the law prohibiting the denial of coverage for ...
(Date:12/1/2015)... , ... December 01, 2015 , ... ... leadless pacemakers in the U.S. and is the only hospital in the region ... largest clinical data presentation of transcatheter pacing patients were revealed recently at a ...
(Date:12/1/2015)... ... December 01, 2015 , ... Dr. Paul Vitenas, one ... Surgery, has been named by MedEsthetics magazine as the Best Single Physician Practice in ... among the many elite aesthetic physicians honored by the industry publication. , Dr. ...
(Date:12/1/2015)... ... December 01, 2015 , ... Growth in medical payments per ... decreases in utilization of hospital and nonhospital care, according to a recent study by ... for Louisiana, 16th Edition , found medical payments per claim with more than seven ...
Breaking Medicine News(10 mins):