Drug major Sun Pharmaceutical Industries has entered into a settlement pact with US-based The Medicines Company for settling the lawsuit filed against it by the later for generic Angiomax.
"Sun Pharmaceutical Industries and certain of our subsidiaries have executed a settlement agreement with 'The Medicines Company USA' settling the lawsuit filed against the company and its subsidiaries regarding submission of abbreviated new drug application (ANDA) by one of our subsidiaries, for a generic version of Angiomax, Bivalirudin injection," the company said in a filing to BSE.
Under the terms of the agreement, the company's subsidiary is entitled to launch its version of generic Angiomax in the US on June 30, 2019 or earlier under certain limited circumstances, it added.
"This product is a direct thrombin inhibitor indicated for use as an anticoagulant," Sun Pharmaceutical Industries said.
As per the information available on The Medicines Company website in October 2011, it received a notice from a subsidiary of Sun Pharma notifying it that the subsidiary had submitted an ANDA to the U S Food and Drug Administration for approval to market a generic version of Angiomax.
In November 2011, the company filed a patent infringement lawsuit against Sun, the release said.
Commenting on the development, The Medicines Company President and Chief Financial Officer Glenn Sblendorio said: "This settlement further confirms the strength of our Angiomax patents and, we believe, is a common sense approach to resolving this litigation."
Shares of Sun Pharmaceutical Industries today closed at Rs 1,078.55 per scrip on BSE, up 5.51 per cent from its previous close.
