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Novartis drops Exelon patent suit against Sun Pharma
Sun Pharma’s generic drugs business in the US received a shot in the arm, after Novartis dropped a patent infringement suit against it and Watson Pharmaceuticals Inc over its Alzheimers and dementia drug Exelon, reports Business Line.
The Mumbai-based drug maker had got US FDA approvals to sell Rivastigmine in four different potencies and these strengths have annual sales of about $200 million in the US.
Sun Pharma, being one of the first to file an abbreviated new drug application to sell generic Exelon in the US, is also eligible to share 180-day marketing exclusivity on the drug. The company's shares closed at Rs 1,104 on Wednesday, up almost two per cent on the BSE.
Dr Reddy's Laboratories too had received US regulatory approval earlier this month to sell generic Exelon. Reports indicate that Ranbaxy also had received a tentative US FDA approval to sell the generic version of the drug.
