Par's Development and Marketing Partner, Glenmark, Enters Into A Settlement Agreement With Merck To Settle Patent Litigation Over Generi... ( WOODCLIFF LAKE N.J. May 3 2010 Pa...)

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Par's Development and Marketing Partner, Glenmark, Enters Into A Settlement Agreement With Merck To Settle Patent Litigation Over Generic ZETIA(R)

Date:5/10/2010

WOODCLIFF LAKE, N.J., May 10 /PRNewswire-FirstCall/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced that its partner, Glenmark Generics Limited and Glenmark Generics Inc., USA, has entered into a settlement agreement with Merck & Co. Inc. that resolves patent litigation related to Glenmark's challenge to Merck's patent covering ZETIA® (ezetimibe). This settlement effectively ends the lawsuit involving a challenge by Glenmark which sought to launch a generic version of ZETIA before the April 2017 expiration of the patent exclusivity covering ZETIA. Specifically, Glenmark challenged Merck's basic compound patent, RE 37,721 (the "'721 patent") on numerous grounds.

On May 3, 2010, Par announced that it acquired the exclusive rights to market, sell and distribute generic ZETIA (ezetimibe) in the U.S. from Glenmark Generics Limited. The companies will share in profits from the sales of the product.

Under the agreement, Par will be able to launch the product on December 12, 2016 or earlier under certain circumstances, ahead of the April 25, 2017 expiration of Merck's patent exclusivity for ZETIA.

The settlement agreement is subject to review by the Federal Trade Commission, the U.S. Department of Justice, and the Attorney General for the State of New Jersey.

About Par Pharmaceutical Companies, Inc.

Par Pharmaceutical Companies, Inc. is a U.S.-based specialty pharmaceutical company. Throug
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