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:7/27/2017)...  West Pharmaceutical Services, Inc. (NYSE: WST ... 2017 and updated financial guidance for the full-year 2017. ... Reported net sales of $397.6 million, ... Net sales at constant currency (organic) grew by 3.9%. ... compared to $0.60 in the prior-year quarter. Second-quarter 2017 ...
(Date:7/26/2017)... Aesthetics, a leading medical aesthetic clinic in Singapore ... skin conditions from the inside. The natural process of ... skin becomes more transparent due to the thinning of the epidermis. Over ... the sun contributes to aging skin, causing age spots and other ... ...
(Date:7/26/2017)... 26, 2017 The Galien Foundation announced ... USA Award Nominees. Counted among the global ... recognizes outstanding biomedical and technology product achievement that improves the ... qualify, each candidate must be U.S. Food and Drug Administration ... demonstrate tremendous potential to impact human health. Sales data are ...
Breaking Medicine Technology:
(Date:7/27/2017)... Plano, TX (PRWEB) , ... July 27, 2017 ... ... technology and outsourced services, announces the internal promotion of Elrene Clinkscales to Vice ... Operations – Claims & Remittance Management, reporting to Derek Morkel, chief executive officer ...
(Date:7/27/2017)... ... 2017 , ... Team Novo Nordisk, the world’s first all-diabetes professional cycling team, ... a stagiaire for the remainder of the 2017 season. One of our best development ... Tour of Utah. , “Every season we are excited to move an athlete from ...
(Date:7/26/2017)... ... July 26, 2017 , ... Written By: Ashley D. Beall, ... in drug therapy for patients living with relapsing and primary multiple sclerosis that ... cell targeted therapy that has been proven to significantly reduce signs of disease ...
(Date:7/26/2017)... ... July 26, 2017 , ... “We are dentists and we thought there ... Jose, Calif., “so we invented the MAGNETIC/ LOCK BRACKETS.” , The patent-pending MAGNETIC/ LOCK ... In doing so, it offers an effective alternative to traditional braces. As a result, ...
(Date:7/26/2017)... ... July 26, 2017 , ... “We are thrilled to be ... for patients to schedule an appointment online in real time,” said Keith English, LocalMed ... Smiles provider directory will bring more Six Month Smiles patients to their providers.” , ...
Breaking Medicine News(10 mins):