Details of Settlement (OxyContin Patent Infringement Lawsuit) Announced
April 4, 2007
Purdue and IMPAX have agreed to end their lawsuit concerning patents on OxyContin. Under the terms of the settlement agreement, IMPAX acknowledges that Purdue’s OxyContin patents are valid, and were infringed upon by IMPAX’s oxycodone ER products. Purdue agrees it will not pursue damages against IMPAX for the infringement. Purdue also will permit IMPAX to keep its oxycodone er products on the market through June 14, 2007, with rights to resume distribution in the future of a limited amount of product for a limited period of time.
The parties will be submitting the agreement to federal antitrust authorities for review and will also submit a consent judgment reflecting certain terms from the agreement to the federal district court in which the action was filed.
(Via PR Inside)
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