Forest settles Alzheimers drug patent suits

Forest Laboratories Inc said it and Germany's Merz Pharma reached settlement agreements for all patent litigation over their Namenda Alzheimer's drug that will keep cheaper generic versions of the medicine off the US market until January 2015.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset
moneycontrol.com

Home » News » World News

Jul 23, 2010, 09.15 AM | Source: Reuters

Forest settles Alzheimer's drug patent suits

Forest Laboratories Inc said it and Germany's Merz Pharma reached settlement agreements for all patent litigation over their Namenda Alzheimer's drug that will keep cheaper generic versions of the medicine off the US market until January 2015.

Like this story, share it with millions of investors on M3

Forest settles Alzheimers drug patent suits

Forest Laboratories Inc said it and Germany's Merz Pharma reached settlement agreements for all patent litigation over their Namenda Alzheimer's drug that will keep cheaper generic versions of the medicine off the US market until January 2015.

Post Your Comments

Share Cancel

CNBC-TV18

Watch CNBC-TV18 live only on MYTV >>

Forest Laboratories Inc said it and Germany's Merz Pharma reached settlement agreements for all patent litigation over their Namenda Alzheimer's drug that will keep cheaper generic versions of the medicine off the US market until January 2015.

The announcement that removes uncertainty over one of Forest's most important and still-growing products boosted the company's shares by more that 2%.

"To the extent that anyone in the investment community was worried about an earlier-than-forecast launch of generic Namenda, a low probability risk is now removed from the equation," said Summer Street Research analyst Jon Stephenson.

"The stock is extremely inexpensive, so removing even a low probability risk factor has a meaningful impact on the stock," Stephenson added.

Forest said Thursday it and privately held Merz settled with all 10 defendants in patent infringement litigation related to Namenda, which is known generically as memantine. The settlements are subject to review by the US Federal Trade Commission, Forest said.

Forest had filed patent infringement lawsuits against Mylan Inc, Teva Pharmaceutical Industries Ltd, Watson Pharmaceuticals Inc, India's Dr Reddy's Laboratories Ltd and a handful of other generic drugmakers.

Under the settlement agreements, Forest and Merz will provide licenses to the 10 companies that will allow them to begin selling generic Namenda three months prior to expiration of the disputed US patent.

In the most recent quarter, Forest reported worldwide Namenda sales of USD 307.8 million, an increase of 18.7%.

Mylan, citing IMH Health data, said Namenda has annual US sales of about USD 1.2 billion.

Forest shares were up 67 cents, or 2.4%, at USD 28.54 on the New York Stock Exchange.

 

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Forest settles Alzheimers drug patent suits

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login