July 16, 2008 - Impax Laboratories Inc. today announced that all conditions of a settlement of the U.S. patent infringement litigation pertaining to Impax's proposed generic capsule formulation of Wyeth's Effexor XR(R) antidepressant have been approved by the United States District Court for the District of Delaware. The Court entered a consent judgment resulting in termination of the litigation effective today.
Under the terms of the settlement, Wyeth has granted IMPAX a license that would permit IMPAX to launch its capsule formulation of Effexor XR on or after June 1, 2011, subject to earlier launch in limited circumstances, but in no event earlier than January 1, 2011. IMPAX will pay Wyeth a royalty on sales of this generic product.
The details can be read here.
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