Navigation Links
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. Through its wholly-owned subsidiary's two operating divisions, Par Pharmaceutical and Strativa Pharmaceuticals, it develops, manufactures and markets high barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals.  For press release and other company information, visit www.parpharm.com.

Safe Harbor Statement

Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein.  Risk factors that might affect such forward-looking statements include those set forth in Item 1A of the Company's most recent Annual Report on Form 10-K in other of the Company's filings with the SEC from time to time, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and on general industry and economic conditions.  Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.


'/>"/>
SOURCE Par Pharmaceutical Companies, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Chimerix Appoints Thomas Pitler, Ph.D., Vice President, Business Development
2. Novocell Becomes ViaCyte, Inc., as it Accelerates Pre-Clinical Development of a Stem Cell Derived Treatment for Diabetes
3. ViaCyte, Inc., Receives Three Additional U.S. Patents, Supporting its Development of a Stem Cell Derived Treatment for Diabetes
4. Sagent Pharmaceuticals and Actavis Enter Into Exclusive U.S. Development, Supply and Marketing Collaboration for a Portfolio of Specialty Injectable Pharmaceutical Products
5. Mike Burgess Named Head of Oncology Discovery Translational Area for Roches Pharma Research and Early Development (pRED) Organization
6. Nephros Signs Development Agreement with STERIS
7. ChemImages Raman Chemical Imaging Used for Ingredient-Specific Particle Sizing for Inhalation Product Development
8. Global Partners Join Forces to Speed Development of New TB Drug Combinations
9. Cardium Reports on Fourth Quarter and Year-End 2009 Financial Results and Recent Developments
10. Delcath Systems Provides Update on Corporate Developments
11. National Instruments Awards $1 Million to Advance Medical Device Development Since 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)...  The particle counters market is projected to ... 275.9 million in 2016, at a CAGR of ... http://www.reportlinker.com/p04718602-summary/view-report.html The growing pharmaceutical and ... growth in manufacturing industries in emerging nations are ... counters. On the other hand, technical limitations of ...
(Date:2/24/2017)... 2017 Research and Markets has announced the ... - 2016" report to their offering. ... The latest research Urinary Incontinence Drugs ... benchmarks in the global Urinary Incontinence market. The research answers ... key drugs marketed for Urinary Incontinence and their clinical attributes? How ...
(Date:2/23/2017)... -- Genesis Healthcare Services has merged with Hospice Cloud, a ... Bill Monast , President and CEO of Hospice Cloud ... , executives with Home Health Depot, Inc., the parent ... This acquisition helps Hospice Cloud maintain its position as ... equipment (DME) solutions for the hospice industry. Nathan ...
Breaking Medicine Technology:
(Date:2/24/2017)... ... ... Fiber Network (IFN) President and CEO Kelly C. Dyer recently announced that he will ... the Management Committee when IFN was originally formed in 2002 where he was ultimately ... of the business plan. He became the first paid employee of IFN in ...
(Date:2/24/2017)... MI (PRWEB) , ... February 24, 2017 , ... ... in Charlevoix, once again hosted their Military Wedding Giveaway, with the winning ... hosted by Castle Farms with services generously donated from local vendors: A Matter ...
(Date:2/23/2017)... FL (PRWEB) , ... February 23, 2017 , ... ... non-profit organization devoted exclusively to funding innovative lymphoma research and serving the lymphoma ... – will return to the La Gorce Country Club in Miami Beach to ...
(Date:2/23/2017)... ... 2017 , ... Hamlin Dental Group and Dr. Hamid Reza, dentist in ... the month of February, patients who visit Hamlin Dental Group will receive a ticket ... two at the Cheesecake Factory. , Tickets are available for routine dental visits ...
(Date:2/23/2017)... ... ... Dr. David Mahon leads Siena Dental, a comprehensive dental practice located at 10075 ... Patient Rated Henderson Dentist by Find Local Doctors earlier this year. ... who have earned high ratings and superior patient reviews from multiple credible sources. , ...
Breaking Medicine News(10 mins):