Jan 9, 2008 - Taro Pharmaceutical Industries Ltd. ("Taro," Pink Sheets: TAROF) reported today that it settled a pending lawsuit with Novartis and will be launching Oxcarbazepine Tablets 150 mg, 300 mg, and 600 mg in the US.
Oxcarbazepine Tablets, marketed by Novartis as Trileptal(R) Tablets, is a prescription pharmaceutical product used in treating seizures. Taro recently settled litigation with Novartis regarding Taro's "Paragraph IV" certification challenging Novartis' patent protection on Trileptal(R). On November 15, 2007, Taro received approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for Oxcarbazepine Tablets 150 mg, 300 mg, and 600 mg. The Company did not immediately launch the product at that time, pending settlement of the litigation with Novartis. The Company plans to launch Oxcarbazepine Tablets in the near future. According to industry sources, Trileptal(R) Tablets currently have annual U.S. sales of approximately $700 million.
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