Ranbaxy, Cipher, and Galephar enter into non-exclusive license agreement with Actavis
Sun Pharmaceutical Industries announced that Ranbaxy Pharmaceuticals Inc. (Ranbaxy), a wholly-owned subsidiary, along with its partners, Cipher Pharmaceuticals Inc. (Cipher) and Galephar Pharmaceutical Research, Inc. (Galephar) have entered into a Settlement Agreement with Actavis Group (Actavis) that dismisses the patent litigation suit relating to Actavis' Abbreviated New Drug Application (ANDA) for a generic version of Absorica (isotretinoin capsules).As part of the Settlement Agreement, Ranbaxy, Cipher, and Galephar have entered into a non-exclusive license agreement with Actavis under which Actavis may begin selling its generic version of Absorica in the U.S. on 27 December 2020 (approximately nine months prior to the expiration of the patents in September 2021) or earlier under certain circumstances. The other terms of the agreement are confidential.
The Settlement Agreement is subject to review by the U.S. Federal Trade Commission and the U.S. Department of Justice.
Absorica (Isotretinoin capsules) is the registered trademark of Ranbaxy Laboratories Inc.
Powered by Capital Market - Live News