Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Actavis Plc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The space agencies of the United States and India have agreed to launch a satellite mission to observe Earth and establish a pathway for future joint missions to explore Mars. In a meeting Tuesday in Toronto, NASA Administrator Charles Bolden and Indian Space Research Organisation's (ISRO) chairman K. Radhakrishnan signed two documents for the joint venture. While attending the International Ast The Eurozone manufacturing moved closer to stagnation in September as German factory sector contracted for the first time in 15 months, final data from Markit Economics showed Wednesday. The manufacturing Purchasing Managers' Index fell more than intially estimated to a 14-month low of 50.3 from August's reading 50.7. The reading was below the earlier flash estimate of 50.5. Indonesia's inflation accelerated in September on food and utility costs, data from the Central Statistics Agency showed Wednesday. The trade balance swung into deficit in August as import growth exceeded the increase in exports. Inflation rose to 4.53 percent in September from 3.99 percent in...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.