Navigation Links
Caraco Pharmaceutical Laboratories, Ltd. Closes Asset Purchase Agreement with Forest Laboratories, Inc. to Settle Lexapro(R) (escitalopram oxalate) ANDA Patent Litigation
Date:10/2/2009

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:
*Name:
*Comment:
*Email:
(Date:4/18/2017)... 18, 2017  Astute Medical, Inc., developer of biomarkers ... be presented at the 2017 National Kidney Foundation (NKF) ... continues through April 22. Physicians will present data on ... assess risk for acute kidney injury (AKI) during the ... Elevated levels of TIMP-2 and IGFBP-7 ...
(Date:4/18/2017)... Calif. , April 18, 2017  Socionext ... of collaboration started in 2016, in which Socionext ... Brain SOINN". The companies achieved initial results in ... solution by Artificial Brain SOINN. The results will ... Big Sight, April 19-21, at booths 4505 & ...
(Date:4/18/2017)... April 18, 2017  Spero Therapeutics, LLC, a biopharmaceutical ... of bacterial infections, will present preclinical data supporting the ... multidrug resistant (MDR) Gram-negative infections at the 27th European ... 22-25, 2017 in Vienna, Austria . ... "Our ...
Breaking Medicine Technology:
(Date:4/24/2017)... ... ... Sean Fay is the undisputed king of the infomercial. With clients as ubiquitous ... Grill (which sold more than 100 million units worldwide), he has created more household ... to changes in the broadcast media landscape, the once ever-present infomercial has gone the ...
(Date:4/24/2017)... Boca Raton, Florida (PRWEB) , ... April 24, ... ... that develops a variety of unique liquid food supplements, announced its popular products ... of nutritional products. , ALP Nutrition® prioritizes the use of premium natural ...
(Date:4/24/2017)... Waycross, Ga. (PRWEB) , ... April 24, 2017 ... ... and trusted advisor within the telehealth industry, announces the company’s VideoMedicine mobile platform ... primary care providers. Available 24 hours a day, Quick Care provides patients with ...
(Date:4/24/2017)... CA (PRWEB) , ... April 24, 2017 , ... ... brain tumors are expected to be diagnosed globally; approximately 25,000 of them will ... are anticipating greater use of this type of healthcare model in the diagnosis ...
(Date:4/24/2017)... ... April 24, 2017 , ... Pitavastatin, ... HIV because it is not known to have significant interactions with antiretroviral therapy ... both lower cholesterol levels and dampen inflammation in the bloodstream. , While lowering ...
Breaking Medicine News(10 mins):