logo
Share SHARE
FONT-SIZE Plus   Neg

Actavis Reaches Deal With Purdue Pharma To Settle Patent Litigation On OxyContin

Actavis Inc. (ACT) announced that it has entered into an agreement with Purdue Pharma to settle all outstanding patent litigation related to Actavis' generic version of the currently marketed abuse-deterrent formulation of OxyContin.

As per the terms of the agreement, Actavis will be licensed to market a specified number of bottles of its generic OxyContin beginning on January 1, 2014. Launch of Actavis' product is contingent upon the Company receiving final approval from the U.S. Food and Drug Administration on its Abbreviated New Drug Application (ANDA) for generic OxyContin.

Alternatively, if Actavis is unable to gain FDA approval of its generic OxyContin prior to September 1, 2014, the company will be permitted to launch a specified number of bottles of an authorized generic version of Purdue's abuse-deterrent product beginning in October 2014.

Actavis anticipates that the agreement will represent more than $100 million in combined gross profit in 2014 and 2015, more heavily weighted to 2014. The agreement is expected to result in a more modest contribution from 2016 through 2019. Other terms of the settlement were not disclosed.

OxyContin had U.S. sales of approximately $2.8 billion for the twelve month period ending January 31, 2013 according to IMS Health.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Hartford Financial reported a decline in first-quarter profit, despite growth in premiums, due mainly to the absence of gains recorded last year. Apple Inc. said Monday after the markets closed that its second quarter profit rose 33% from last year, driven by strong sales of iPhone and Mac as well as all-time record performance of the App Store. The company's quarterly earnings per share also breezed past Wall Street expectations as did its quarterly sales. C.H. Robinson Worldwide Inc. (CHRW), one of the largest transportation logistics firm in North America, Monday reported an increase in first-quarter profit, driven largely by a 5 percent revenue growth. However, earnings for the quarter fell short of Wall Street estimates by a penny, as did revenues. Eden...
comments powered by Disqus
Follow RTT