Piramal Healthcare Settles Patent Litigation with Baxter
Wednesday, 02 November 2011, 05:42 IST
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New Delhi: Piramal Healthcare today said it had settled a patent litigation over Baxter Healthcare's anesthetic drug Suprane and could now launch its product in the US market from January 1, 2014. Piramal Critical Care Inc, a subsidiary of the company, announced that patent litigation with Baxter Healthcare Corporation regarding generic Suprane has been dismissed by the Delaware District Court in US pursuant to a settlement between the parties, Piramal Healthcare said in a filing to the Bombay Stock Exchange (BSE). As per the terms of the agreement, both parties agreed that Piramal may launch its generic Desflurane in the US as of January 1, 2014 subject to regulatory approval, it added. "Piramal has agreed not to make, use, sell or offer for sale in the United States, or import into the US, this product prior to January 1, 2014," the company said. However, the company has taken a licence under the patent pursuant to which the parties have agreed that Piramal may manufacture its generic Desflurane in the US as of April 24, 2012 solely for sale outside the US, it added. Shares of Piramal Healthcare today closed at Rs 360.50 on the BSE, down 0.25% from its previous close.
Source: PTI