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Endo Announces Resolution of Patent Litigation with Watson Pharmaceuticals Related to Lidoderm®
Date:5/29/2012

CHADDS FORD, Pa., May 29, 2012 /PRNewswire/ -- Endo (Nasdaq: ENDP) announced today that it has reached an agreement with Watson Pharmaceuticals (Watson) resolving two patent infringement lawsuits related to LIDODERM (lidocaine patch 5%).  A trial was held on the first of these cases in February 2012, and this resolution was reached prior to the Judge issuing a decision in the case.

"We are pleased to have reached an agreement that protects Endo's intellectual property interests and eliminates the uncertainty of a court decision," said Dave Holveck, President and CEO of Endo.  "We believe this agreement will benefit consumers and resolving this issue is another step forward in establishing Endo as the dynamic, diversified healthcare solutions company that we are today." 

The settlement agreement outlines the terms of the agreement, which include:

  • Watson is unable to market a generic version of Lidoderm until the U.S. Food and Drug Administration (FDA) approves Watson's abbreviated new drug application (ANDA) for its lidocaine patch 5% product. 
  • If the FDA approves Watson's ANDA prior to September 15, 2013, Watson must wait until that day to market its generic product, except under certain limited circumstances. 
  • Endo will provide $12 million in branded Lidoderm product, based on wholesale acquisition cost, to Watson each month from January through August of 2013.
  • If the FDA does not approve Watson's ANDA by Dec. 31st, 2013, Endo will provide $6.67 million in branded Lidoderm product, based on wholesale acquisition cost, to Watson each month in 2014 that Watson's ANDA has not received FDA approval.
  • If the FDA does not approve Watson's ANDA by Dec. 31st, 2014, Endo will provide $7.11 million in branded Lidoderm product, based on wholesale acquisition cost, to
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SOURCE Endo Health Solutions Inc.
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