Drug firm Lupin today said it has settled ongoing litigation over Lunesta tablets, used in treating insomnia, with Japan-based Dainippon Sumitomo Pharma.
The company and its US subsidiary Lupin Pharmaceuticals Inc have settled all ongoing litigation over Lunesta tablets, thereby, dismissing a patent suit brought by the drug's maker, Dainippon Sumitomo's subsidiary Sunovion Pharmaceuticals Inc, Lupin said in a filing to Bombay Stock Exchange (BSE).
The settlement entitles Mumbai-headquartered company to sell its generic version of Lunesta under a license as soon as November 30, 2013 (two and a half months prior to the expiry of the US patent), it added.
"The date would be pushed back to May 31, 2014 if Sunovion obtains six months additional pediatric exclusivity for the product," Lupin said.
According to IMS MAT September 2010 data, sales of Lunesta were at $787 million in the 12 months ended September 2010.
Dainippon Sumitomo Pharma (DSP) is a multi-billion dollar, top-ten listed pharmaceutical company in Japan with a diverse portfolio of pharmaceutical, animal health and food and specialty products.
Shares of Lupin were today trading at Rs 487.60 on BSE in the late afternoon trade, up by 1.49 per cent from its previous close.