Glenmark settles patent suit with Triax over generic drug
Glenmark Pharmaceuticals' USA unit has entered into a royalty-bearing license agreement with Triax Pharmaceuticals, Astellas Pharma Europe BV and Astellas Pharma International BV to settle last year's patent infringement suit against the comercialisation of generic version of Locoid Lipocream, the company said in a press release Wednesday.
Moneycontrol Bureau
Glenmark Pharmaceuticals' USA unit has entered into a royalty-bearing license agreement with Triax Pharmaceuticals, Astellas Pharma Europe BV and Astellas Pharma International BV to settle last year's patent infringement suit against the comercialisation of generic version of Locoid Lipocream, the company said in a press release Wednesday.The Indian pharmaceutical company will be allowed to market and distribute 0.1% hydrocortisone butyrate, the generic version of Locoid Lipocream, used in the treatment of variety of skin disorders, under a royalty-bearing license in the US until the end of 2013, the release said.Glenmark believes that it is entitled to 180 days of exclusivity with respect to its hydrocortisone butyrate cream, as it is the first generic company to file an ANDA for the product.Triax Pharmaceuticals, LLC, Astellas Pharma Europe and Astellas Pharma International had filed patent infringement suit last year in the US District Court to prevent Glenmark from commercializing its Abbreviated New Drug Application (ANDA) for hydrocortisone butyrate cream 0.1%, a generic version of Locoid Lipocream, prior to expiration of the Orange Book patent.Triax Pharmaceutical's Locoid Lipocream had achieved sales of about USD 38 million in 2010, data by IMS health showed.At 12:05 hrs, shares of Glenmark Pharma were trading at Rs 287.60, down 0.54% in a weak Mumbai market. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
